1 9 9 9a n n u a l r e p o r t l a p o r a n t a h u n a n
Puncak Niaga Holdings Berhad416087-U
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for the 21stcentury
a waterresource
Malaysia’s Water Specialist • Pakar Air Malaysia Puncak Niaga Holdings Berhad
Suite 2601-2606, 26th Floor, Plaza See Hoy Chan, Jalan Raja Chulan, 50200 Kuala Lumpur Tel: 03-201 8648 Fax: 03-201 8658 e-mail: [email protected]
What final lesson can we derive from our blueprint forwater management in the 21st century? Education,technology, environmental preservation, and co-operationbetween the public and private sector, will all contributesignificantly toward achieving our goals.
Perhaps the final consideration is not a call to action, buta call to reason. An admonishment to moderation, toforbearance, to ... balance.
We must find and work toward striking a perfect balancebetween social and economic needs, and the need tosustain our natural re s o u rces and heritage for thegenerations to come.
Apakah jaminan masa depan kita?Apakah pengajaran yang dapat dimanfaatkan daripadarangka tindakan kita mengenai pengurusan air pada abad ke 21? Pendidikan, teknologi, pemuliharaan alampersekitaran dan kerjasama antara sektor awam danswasta – gemblengan kesemua faktor ini adalah pentinguntuk membantu mencapai matlamat kita.
Mungkin pertimbangan muktamad kita bukan seruanuntuk bertindak tetapi seruan untuk berfikiran wajar – amalkan sifat kesedarhanaan, kesabaran dankeseimbangan.
Kita mesti mencari dan mencapai keseimbangan palingsecocok antara keperluan sosial, ekonomi danpemeliharaan sumber alam dan warisan kita untukgenerasi akan datang.
The cover conveys Puncak Niaga’s firm commitment toprovide for the present and future water needs of ourcommunity. At the same time, it also highlights thei m p o rtance of water consumption and its re l a t e denvironmental issues; to bring these further into thepublic realm for debate and discussion; and thus forPuncak Niaga to play a leadership role in formulating ap roactive, dynamic and integrated water re s o u rc emanagement strategy, a blueprint for the 21st century.
Hiasan kulit menggambarkan kejituan komitmen PuncakNiaga menyediakan air untuk keperluan rakyat hari inidan masa depan, sekali gus menonjolkan betapapentingnya penggunaan air dan isu-isu yang berkaitandengan alam sekitar untuk diketengahkan sebagai bahandebat dan diskusi masyarakat, lantas mendorong PuncakNiaga menampilkan kepimpinannya merumus strategip e n g u rusan sumber air yang proaktif, dinamik danbersepadu, satu rangka tindakan bagi abad ke 21.
c o n t e n t s
P e rf o rmance Highlights 2
Financial Calendar 2
S h a re Perf o rm a n c e 3
Corporate Pro f i l e 4
G roup Corporate Stru c t u re 6
Company Stru c t u re 7
Corporate Information 8
B o a rd of Directors 1 0
Audit Committee 1 4
Senior Management 20
C h a i rm a n ’s Statement 2 7
Operations Review 3 5
Corporate Highlights 5 6
Corporate Achievements 6 0
Analysis of Share h o l d i n g s 6 1
List of Pro p e rt y 6 3
Financial Report 6 5
Notice of Annual General Meeting 1 2 1
P roxy Form
Annual General Meeting
10.00 am on 7 June 2000
Banquet Hall
Kuala Lumpur Golf & Country Club
k a n d u n g a n
S o rotan Pre s t a s i 2
Kalendar Kewangan 2
P restasi Saham 3
P rofil Korporat 4
S t ruktur Korporat Kumpulan 6
S t ruktur Syarikat 7
Maklumat Korporat 8
Lembaga Pengarah 1 0
Jawatankuasa Audit 1 4
P e n g u rusan Kanan 2 0
Kenyataan Pengerusi 2 7
Tinjauan Operasi 3 5
S o rotan Peristiwa Korporat 5 6
Pencapaian Korporat 6 0
Analisa Pegangan Saham 6 1
Senarai Hartanah 6 3
Laporan Kewangan 9 3
Notis Mesyuarat Agung Ta h u n a n 1 2 2
Borang Pro k s i
Mesyuarat Agung Tahunan
10.00 pagi pada 7 Jun 2000
Dewan Banquet
Kuala Lumpur Golf & Country Club
In RM’000 Dalam RM’000 . . . . . . . . . . . . . . . . . . . . . . .1 9 9 9 . . . . . . . . . . . . .1 9 9 8
Balance sheet Lembaran imbangan
Fixed assets Aset tetap . . . . . . . . . . . . . . . . . . . . . . 1 , 5 6 8 , 0 1 7 . . . . . . . . . 1 , 3 4 0 , 9 4 7
P roject development costs Kos pembangunan pro j e k . . . . . . . . . . . .217,729 . . . . . . . . . . 2 1 9 , 6 2 9
Other non-current assets Lain-lain aset bukan semasa . . . . . . . . . . . . . .45 . . . . . . . . . . . 2 1 , 1 9 6
C u rrent assets Aset semasa . . . . . . . . . . . . . . . . . . . . . .315,010 . . . . . . . . . . 4 6 2 , 0 0 4
Total tangible assets Jumlah aset ketara . . . . . . . . . . . . . . . .2,100,801 . . . . . . . . 2 , 0 4 3 , 7 7 6
Issued and paid up Modal diterbitkan dan
c a p i t a l d i b a y a r
S h a re capital Modal saham . . . . . . . . . . . . . . . . . . . . .2 5 0 , 0 0 0 . . . . . . . . . . .2 5 0 , 0 0 0
R e s e rv e s R i z a b . . . . . . . . . . . . . . . . . . . . . . . . . . .3 7 8 , 1 3 8 . . . . . . . . . . .2 7 9 , 1 6 7
S h a reholders’ funds Dana pemegang saham . . . . . . . . . . . . . .6 2 8 , 1 3 8 . . . . . . . . . . .5 2 9 , 1 6 7
Net tangible asset per share Aset ketara bersih sesaham . . . . . . . . . . . . .2 . 4 6 . . . . . . . . . . . . . .2 . 0 6
Ratios and statistics Nisbah dan statistik
Tu rn o v e r P e ro l e h a n . . . . . . . . . . . . . . . . . . . . . . .. 3 4 7 , 4 7 2 . . . . . . . . . . .1 8 3 , 4 1 5
Net profit after tax Keuntungan bersih selepas cukai . . . . . . .9 8 , 9 7 2 . . . . . . . . . . . .5 7 , 2 2 6
I n t e rest bearing debt Hutang berbeban faedah . . . . . . . . . . .1 , 2 6 1 , 3 0 4 . . . . . . . . .1 , 2 5 2 , 4 8 6
In sen Dalam sen
E a rnings per share Pendapatan sesaham . . . . . . . . . . . . . . . . .39.59 . . . . . . . . . . . .2 2 . 8 9
In % of Turnover Perolehan Dalam %
Operating pro f i t Keuntungan operasi . . . . . . . . . . . . . . . . . . . .28 . . . . . . . . . . . . . .3 1
In RM’000 Dalam RM’000
No. of ord i n a ry share s Bilangan saham biasa . . . . . . . . . . . . . . .2 5 0 , 0 0 0 . . . . . . . . . . .2 5 0 , 0 0 0
In times Dalam kali
Gearing ratio Nisbah gearan . . . . . . . . . . . . . . . . . . . . . . .2 . 0 1 . . . . . . . . . . . . . .2 . 3 7
C u rrent ratio Nisbah semasa . . . . . . . . . . . . . . . . . . . . . . .1 . 0 8 . . . . . . . . . . . . . .1 . 5 7
Financial calendar Kalendar kewangan
Financial year end Tahun kewangan berakhir . . . . . . . . . . . . .31 December D i s e m b e r 1 9 9 9
Announcement of re s u l t s Pengumuman keputusan
1/2 year re s u l t keputusan 1/2 t a h u n
as at 30 June 99 (Interim) pada 30 Jun 99 (Interim) . . . . . . . . . . . . . . . .27 August O g o s 1 9 9 9
3 rd quarter re s u l t keputusan suku tahun ketiga
as at 30 September 99 pada 30 September 99 . . . . . . . . . . . 24 November N o v e m b e r 1 9 9 9
4th quarter re s u l t keputusan suku tahun keempat
as at 31 December 99 pada 31 Disember 99 . . . . . . . . . . . . . . .29 Febru a ry F e b ru a r i 2 0 0 0
Audited Accounts Akaun Beraudit . . . . . . . . . . . . . . . . . . . . . . . . . . . .24 April April 2 0 0 0
Announcement of P e n g u m u m a n
Composite Issue Terbitan Komposit . . . . . . . . . . . . . . . . . 12 November N o v e m b e r 1 9 9 9
Published Annual Report Laporan Tahunan yang diterbitkan . . . . . . . . . . . . . . .23 May M e i 2 0 0 0
Annual General Meeting Mesyuarat Agung Ta h u n a n . . . . . . . . . . . . . . . . . . . . . .7 June J u n 2 0 0 0
p e r f o r m a n c e h i g h l i g h t ss o r o t a n p r e s t a s i
2
9 5 9 6 9 7 9 8 9 9 9 5 9 6 9 7 9 8 9 99 5 9 6 9 7 9 8 9 9
2 . 6
2 . 8
3 . 0
3 . 2
3 . 4
3 . 6
3 . 8
c o r p o r a t e p r o f i l ep r o f i l k o r p o r a t
Puncak Niaga Holdings Berhad (PNHB) was incorporated on 7 January 1997 under
the Malaysian Companies Act, 1965 as a public company limited by shares. It is an
investment holding company with interest in infrastru c t u re activities specialising in
water engineering and water related activities.
PNHB was listed on the Main
Board of Kuala Lumpur Stock
Exchange (KLSE) on 8 July 1997.
It is the first water
t reatment/supply concession
company to be listed on the
KLSE under the I n f r a s t ru c t u re
P roject Company g u i d e l i n e s
issued by the Securities
Commission.
As an investment holding company, PNHB acted as the
listing vehicle for Puncak Niaga (M) Sdn Bhd (PNSB), an
Infrastructure Project Company (IPC). PNSB is the holder
of two concessions awarded by the Selangor State
Government. The first, a Privatisation Cum Concession
Agreement (PCCA) awarded on 22 September 1994,
allowed PNSB to take over, operate, maintain, manage,
rehabilitate and refurbish 27 existing water treatment
plants (WTPs) formerly under the management of the
Selangor Waterworks Department.
Puncak Niaga Holdings Berhad (PNHB) telahdiperbadankan pada 7 Januari 1997 di bawahAkta Syarikat Malaysia, 1965 sebagai sebuahsyarikat awam berhad menurut saham. Ia adalahsebuah syarikat pegangan pelaburan yangberkecimpung dalam aktiviti infrastruktur denganpengkhususan dalam bidang kejuruteraan air danperkhidmatan berkaitan air.
PNHB telah disenaraikan di Papan Utama BursaSaham Kuala Lumpur (BSKL) pada 8 Julai 1997. Iaadalah syarikat konsesi rawatan/pembekalan airpertama yang disenaraikan di BSKL di bawah garispanduan Syarikat Projek Infrastruktur yangditetapkan oleh Suruhanjaya Sekuriti.
Sebagai sebuah syarikat pegangan pelaburan,PNHB berfungsi sebagai badan-tara penyenaraianbagi Puncak Niaga (M) Sdn Bhd (PNSB), sebuahSyarikat Projek Infrastru k t u r. PNSB adalahpemegang dua konsesi yang dianugerahkan olehKerajaan Negeri Selangor. Konsesi pert a m amerupakan Perjanjian Penswastaan dan Konsesi(PCCA) yang telah dimeteraikan pada 22September 1994. Konsesi ini membenarkan PNSBmengambil alih, mengendali, menyenggara,m e n g u rus, membaik pulih dan melengkapkansemula 27 buah loji pembersihan air sedia adayang sebelum ini diuruskan oleh Jabatan BekalanAir (JBA) Selangor.
4
Our Vision Wawasan KamiTo be the leading and dynamic integrated water
services companyMenjadi syarikat perkhidmatan air bersepadu yang
dinamik dan terunggul
Flocculation tank at SSP2Tangki pemberbukuan di SSP2
Konsesi kedua adalah Perjanjian Pembinaan dan Operasi (CCOA) yangdimeterai pada 22 Mac 1995 untuk membina, mengusaha, menyenggaradan mengurus sebuah loji baru berkapasiti 950 juta liter sehari (JLH) diBukit Badong, Selangor. Konsesi ini adalah di bawah Projek Skim BekalanAir Sungai Selangor Fasa 2 (SSP2) milik Kerajaan Negeri Selangor. Kedua-dua perjanjian PCCA dan CCOA memperu n t u k k a n bahawa dua konsesiberkenaan akan tamat tempohnya pada 31 Disember 2020.
Pada 4 Mei 1997, PNSB telahmengambil alih Loji PembersihanAir Sungai Semenyih di bawah Kontrak Operasi dan Penyenggaraan dengan Kerajaan Negeri Selangor.Pada 18 Julai 1998, PNSB telahmenandatangani perjanjian denganKerajaan Persekutuan bagi pelaksanaankontrak untuk membiayai, merekabentuk dan membina Loji PembersihanAir Wangsa Maju.
Sebagai pemegang konsesi airswasta, PNSB bert a n g g u n g j a w a bmenghasilkan air yang dirawat padatahap kuantiti dan kualiti yangditetapkan di dalam perjanjiandengan Kerajaan Negeri Selangor.Peranan JBA Selangor pula adalahuntuk menguruskan penyaluran airyang dirawat kepada para penggunadi Selangor dan Wilayah PersekutuanKuala Lumpur.
Kini PNSB muncul sebagai pemegangkonsesi pembekal air terbesar di Malaysia. Kami mengendali,m e n g u rus, dan menyenggara 30buah loji pembersihan air yangmempunyai jumlah kapasitipengeluaran purata sebanyak 2,000JLH. Jumlah ini adalah lebih kurang70 peratus daripada keseluru h a npembekalan air bersih di Selangordan Kuala Lumpur, yang mempunyaikira-kira lima juta orang penduduk.
The second concession, a Construction Cum Operation Agreement
(CCOA) was awarded on 22 March 1995, to finance, design, construct,
operate, manage and maintain a new 950 MLD (million litres per day)
WTP at Bukit Badong under the State Government’s Sungai Selangor
Water Supply Scheme Phase 2 Project (SSP2). Both the PCCA and CCOA
provide for the concessions to expire on 31 December 2020.
An additional WTP, the Sungai Semenyih WTP was taken over by PNSB
on 4 May 1997 under an Operation and Maintenance Contract with the
Selangor State Government. On 18 July 1998, PNSB and the Federal
Government finalised the execution of a contract for PNSB to finance,
design and construct the Wangsa Maju WTP.
As a privatised water concessionaire, PNSB is responsible for the
production of treated water up to the quality and quantity designated
in its agreement with the Selangor State Government. Thereafter, the
Selangor Waterworks Department manages the distribution of treated
water to consumers in the State of Selangor and the Federal Territory
of Kuala Lumpur.
Today, PNSB has become the largest water supply concessionaire in
Malaysia. We operate, manage and maintain 30 WTPs with a total
average production capacity of 2,000 MLD. This volume is equivalent to
approximately 70 percent of the overall treated water supply in
Selangor and Kuala Lumpur with a combined population of five
million.
Aerial view of SSP2Pemandangan dari atas SSP2
5
k u m p u l a n
g r o u pc o r p o r a t e s t r u c t u r es t r u k t u r k o r p o r a t
Puncak Niaga Holdings Berhadinvestment holding and provision of management servicespegangan pelaburan dan peruntukan perkhidmatan pengurusan
Puncak Niaga (M) Sdn Bhd100%operation, maintenance,management, construction andundertaking the rehabilitation andrefurbishment of water treatmentfacilities
pelaksanaan, pengendalian,pengurusan, pembinaan danpemulihan serta penyenggaraankemudahan loji pembersihan air
Ideal Water Resources Sdn Bhd100%operation, management,maintenance and undertaking therehabilitation and refurbishment ofSg. Semenyih Water Treatment Plant,Wangsa Maju Water Treatment Plantand SSP2 Phase I Water TreatmentPlant
pelaksanaan, pengurusan,pengendalian, pembinaan danpemulihan serta pembaikan LojiPembersihan Air Sg. Semenyih, LojiPembersihan Air Wangsa Maju danLoji Pembersihan Air SSP2 Fasa I
Puncak Research CentreSdn Bhd100%dormant
tidak aktif
Puncak Seri (M) Sdn Bhd100%dormant
tidak aktif
Unggul Raya (M) Sdn Bhd100%operation, management,maintenance and monitoring theoperation of dams
pelaksanaan, pengurusanpengendalian dan pengawalseliaanoperasi empangan
6
Executive DirectorCorporate AffairsPengarah Eksekutif Hal Ehwal KorporatEncik Ruslan Hassan
7
c o m p a n y s t r u c t u r es t r u k t u r s y a r i k a t
Executive ChairmanPengerusi EksekutifYBhg Dato’ Rozali Ismail
Executive Vice ChairmanNaib Pengerusi EksekutifEncik Ruslan Hassan Strategic Resource Centre
Pusat Sumber Strategik
General Manager Internal AuditPengurus Besar Audit DalamanSonari Solor
Executive DirectorProject & BusinessDevelopmentPengarah EksekutifProjek dan PembangunanPerniagaanIr Lee Miang Koi
General Manager Project& Business DevelopmentPengurus Besar Projekdan PembangunanPerniagaanBeh Men Huat
Executive Director HumanResources & AdministrationPengarah EksekutifSumber Manusiadan PentadbiranEncik Ibrahim Ismail
Executive DirectorOperationsPengarah EksekutifOperasiYM Raja Azhar Raja Ismail
Executive DirectorFinancePengarah EksekutifKewanganEncik Mat Hairi Ismail
Senior Manager BusinessDevelopment & Non-Revenue WaterPengurus KananPembangunanPerniagaan dan AirBukan HasilIshak Awang
Assistant GeneralManager HumanResources Management& Administration Penolong PengurusBesar PengurusanSumber Manusia danPentadbiranNaemuddin Abdullah
Assistant General ManagerPenolong Pengurus BesarSyed Danial Syed Ariffin
General ManagerCorporate FinancePengurus BesarKewangan KorporatRahana Abdul Rashid
Senior Manager Project Management Pengurus Kanan Pengurusan ProjekRusli Zainal Abidin
General ManagerTraining & ProtectiveOperation Pengurus Besar Latihan dan OperasiKeselamatanAdly Mohamed
Senior Manager Sg Selangor WTPPengurus Kanan LojiPembersihan AirSg Selangor Mat Azam Hanafiah
General ManagerLegalPengurus BesarPerundangaan Chan Siew Meei
General ManagerFinance & AccountsPengurus BesarKewangan dan AkaunNg Wah Tar
Senior Manager Project Management Pengurus KananPengurusan ProjekYusof Badawi
Plant Manager Sg Semenyih WTPPengurus Loji PembersihanAir Sg SemenyihBasar Ishak
General ManagerSecretarialPengurus BesarKesetiausahaanTan Bee Lian
Senior ManagerInformation TechnologyPengurus KananTeknologi MaklumatMohd Sabaruldin CheBakar
Plant Manager Wangsa Maju WTPPengurus Loji PembersihanAir Wangsa MajuAbdul Rahman Kadir
General Manager Pengurus Besar Loh Kit Mun
Senior ManagerRehabilitation of WTPPengurus KananPembaikpulihan LojiPembersihan AirNasir Ismail
Senior Manager OperationsContract Supervision (27WTP)Pengurus Kanan PengendalianKontrak & Pengawasan (27 Loji Pembersihan Air)Hashim Omar
Manager Dam OperationsPengurus Operasi EmpanganAhmad Marzuki Hashim
Manager Water Resources &EnvironmentalPengurus Kajian Sumber Air danAlam SekitarRoowina Merican A RahimMerican
Assistant GeneralManager CorporateCommunicationPenolong PengurusBesar KomunikasiKorporatSharidah Pawanteh
Puncak Niaga (M) Sdn Bhd
8
c o r p o r a t e i n f o r m a t i o nm a k l u m a t k o r p o r a t
B o a rd Of Dire c t o r s
Lembaga Pengarah
YBhg Dato’ Rozali Ismail
Executive Chairman
(Pengerusi Eksekutif)
Encik Ruslan Hassan
Executive Vice Chairman
(Naib Pengerusi Eksekutif)
Executive Director Corporate Affairs Division
(Pengarah Eksekutif Bahagian Hal Ehwal Korporat)
YM Raja Azhar Raja Ismail
Executive Director Operations Division
(Pengarah Eksekutif Bahagian Operasi)
Encik Mat Hairi Ismail
Executive Director Finance Division
(Pengarah Eksekutif Bahagian Kewangan)
Ir Lee Miang Koi
Executive Director
Project & Business Development Division
(Pengarah Eksekutif Bahagian Projek dan
Pembangunan Perniagaan)
YBhg Dato’ Hari Narayanan Govindasamy
Independent Non-Executive Director
(Pengarah Bukan-Eksekutif Bebas)
Encik Abdul Majid Abdul Karim
Independent Non-Executive Director
(Pengarah Bukan-Eksekutif Bebas)
G roup Company Secre t a ry
Setiausaha Syarikat Kumpulan
Ms Tan Bee Lian, MAICSA 7006285
R e g i s t e red Off i c e
Pejabat Berd a f t a r
Suite 1401-1406, 14th Floor, Plaza See Hoy Chan
Jalan Raja Chulan, 50200 Kuala Lumpur
Tel: 03-201 8648
Fax: 03-238 4386
Principal Off i c e
Pejabat Utama
Suite 2601-2606, 26th Floor, Plaza See Hoy Chan
Jalan Raja Chulan, 50200 Kuala Lumpur
Tel: 03-201 8648
Fax: 03-201 8658
website: www.puncakniaga.com.my
e-mail: [email protected]
Date and Place Of Incorporation
Tarikh dan Tempat Diperbadankan
7 January 1997 in Malaysia
7 Januari 1997 di Malaysia
Company Number
Nombor Syarikat
416087-U
A u d i t o r s
J u ru a u d i t
Messrs PricewaterhouseCoopers (AF 1146)
Tax Advisor
Penasihat Cukai
PricewaterhouseCoopers Taxation Services Sdn Bhd
(464731-M)
Principal Bankers
Bank-Bank Utama
RHB Sakura Merchant Bankers Bhd (19663-P)
Arab-Malaysian Merchant Bank Bhd (23742-V)
RHB Bank Berhad (6171-M)
S o l i c i t o r s
P e g u a m c a r a
Kadir Tan & Ramli
Rashid & Lee
S h a re Registrar
Pendaftar Saham
Tenaga Koperat Sdn Bhd (118401-V)
20th Floor, IGB Plaza, Jalan Kampar
Off Jalan Tun Razak, 50400 Kuala Lumpur
Tel: 03- 441 6522
Fax: 03- 442 6352
C o n s u l t a n t s
P e ru n d i n g
Ranhill Bersekutu Sdn Bhd (72416-V)
SMHB Sdn Bhd (63281-X)
Sepakat Setia Perunding Sdn Bhd (14142-M)
Stock Exchange Listing
Penyenaraian Bursa Saham
Main Board Kuala Lumpur Stock Exchange
Papan Utama Bursa Saham Kuala Lumpur
The provision of safe and abundant water is becomingm o re difficult and expensive every year. Incre a s e dpopulation and industry demands, coupled with thedecline of water resources in proximity to end-users,requires prompt action.
Water conservation, pre s e rvation of catchment are a s ,reversing extensive deforestation and the degradation ofour rivers are all interconnected problems which need tobe addressed urg e n t l y. And most import a n t l y, thegovernment and industry need to work together to deviseand implement a sensible, long-term national watermanagement strategy to ensure the preservation andsufficiency of our water resources for the future.
Bagaimana kita mendapat air yang mencukupi?Penyediaan air yang cukup dan selamat semakin susahdan mahal setiap tahun. Pertambahan penduduk dankeperluan industri, diganding pula dengan kekurangansumber air yang berhampiran dengan pengguna,memerlukan tindakan segera.
Penjimatan air, pemuliharaan kawasan tadahan,pembasmian hutan dan pencemaran sungai kita adalahmasalah saling berhubungan yang perlu ditanganisegera. Dan paling penting, kerajaan dan industri perlubekerjasama untuk merangka dan melaksanakan strategijangka panjang pengurusan air negara yang wajar bagimemastikan pemuliharaan dan kecukupan sumber airuntuk masa depan.
YBhg Dato’ Rozali Ismail
Executive Chairman
Dato’ Rozali is the founder of PNSB, its Executive Chairman and a substantial shareholder of PNHB. He was
appointed to the PNHB Board on 24 April 1997. Upon obtaining a Bachelor of Law Degree from the University
of Malaya in 1981, he began his career as Legal Advisor to the Urban Development Authority (UDA) for a period
of 5 years before he joined Bank Islam (M) Berhad. Together with a few pioneer bank staff, Dato’ Rozali
conceptualised the first institution of Islamic banking in Malaysia. Subsequently, he started his own legal practice
as an Advocate & Solicitor for 7 years, specialising in corporate, property and banking work.
In 1989, Dato’ Rozali set up a family
company and embarked into the
p ro p e rty development sector, with
involvement in several development
projects in the Klang Valley, Kuantan
and Johor. Under the banner of Bukit
Cerakah Development Sdn Bhd, he is
now actively developing a new
township known as Bandar Baru
Puncak Alam. The family company also
ventured into the utility business in
1989 with the setting up of PNSB. Due
to his vast experience in various fields,
he was entrusted by the State
Government of Selangor, via PNSB, to
manage the water treatment plants for
the whole of Selangor and the Federal
Territory of Kuala Lumpur. PNHB was
subsequently incorporated in 1997 as
the holding company of PNSB and was
listed on the Main Board of Kuala
Lumpur Stock Exchange on 8 July 1997.
Currently, Dato’ Rozali is the Executive
Chairman and substantial shareholder
of U-Wood Holdings Berhad, a Main
Board company which is developing
Bandar Puncak Perdana, a 243 hectare
mixed development project located
near the Sultan Abdul Aziz Shah
A i r p o rt. He is also the Executive
Chairman and substantial shareholder
of WWE Holdings Berhad, a Second
Board company which is involved in the
p rovision of integrated water and
wastewater engineering services for
both the residential and industrial
sectors in Malaysia.
b o a r d o f d i r e c t o r sl e m b a g a p e n g a r a h
YBhg Dato’ Rozali Ismail
Pengerusi Eksekutif
Dato’ Rozali adalah pengasas PNSB, Pengerusi Eksekutif dan
pemegang saham utama PNHB. Beliau dilantik sebagai ahli Lembaga
Pengarah PNHB pada 24 April 1997. Selepas memperolehi Ijazah
Sarjana Muda Undang-Undang dari Universiti Malaya pada 1981,
beliau memulakan kerjayanya sebagai Penasihat Perundangan di
Lembaga Pembangunan Bandar (UDA) bagi tempoh selama 5 tahun
sebelum menyertai Bank Islam (M) Berhad. Bersama-sama dengan
beberapa kakitangan asas bank, Dato’ Rozali mewujudkan konsep
perbankan Islam di Malaysia. Seterusnya, beliau memulakan firma
guamannya sebagai Peguambela dan Peguamcara selama 7 tahun,
dengan pengkhususan dalam kerja-kerja korporat, hartanah dan
perbankan.
Pada 1989, Dato’ Rozali menubuhkan syarikat keluarganya dan
menceburkan diri dalam sektor pembangunan hartanah dengan
penglibatan di dalam beberapa projek pembangunan di Lembah
Klang, Kuantan dan Johor. Beliau kini giat membangunkan sebuah
bandar baru yang dikenali sebagai Bandar Baru Puncak Alam melalui
syarikat Bukit Cerakah Development Sdn Bhd. Syarikat keluarganya
juga menceburi perniagaan perkhidmatan awam pada 1989 dengan
penubuhan PNSB. Berdasarkan pengalaman beliau yang meluas dalam
pelbagai bidang, beliau diberi amanah oleh Kerajaan Negeri Selangor,
melalui PNSB, untuk menguruskan loji-loji pembersihan air untuk
seluruh negeri Selangor dan Wilayah Persekutuan Kuala Lumpur.
PNHB telah diperbadankan pada 1997 sebagai syarikat pegangan
PNSB dan disenaraikan di Papan Utama Bursa Saham Kuala Lumpur
pada 8 Julai 1997.
Pada masa ini, Dato’ Rozali memegang jawatan selaku Pengeru s i
Eksekutif juga pemegang saham utama U-Wood Holdings Berh a d ,
sebuah syarikat Papan Utama yang sedang membangunkan Bandar
Puncak Perdana, sebuah projek campuran seluas 243 hektar yang
b e rhampiran dengan Lapangan Terbang Sultan Abdul Aziz Shah. Beliau
juga merupakan Pengerusi Eksekutif dan pemegang saham utama WWE
Holdings Berhad, sebuah syarikat Papan Kedua yang berkecimpung
dalam peruntukan perkhidmatan air dan air kumbahan yang bersepadu
untuk sektor perumahan dan sektor perindustrian di Malaysia.
10
Encik Ruslan Hassan
Naib Pengerusi Eksekutif dan
Pengarah Eksekutif, Bahagian Hal Ehwal Korporat
En Ruslan mula berkhidmat di PNSB pada 1 November 1995 sebagai Ketua Bahagian Hal Ehwal Korporat.
Jawatan-jawatan yang disandang beliau ialah sebagai ahli Lembaga PNSB pada 26 Disember 1996, sebagai ahli
Lembaga PNHB pada 24 April 1997 dan Naib Pengerusi Eksekutif PNHB pada 6 April 1999. Beliau memulakan
kerjayanya sebagai Penasihat Undang-undang di Esso Production Malaysia Inc setelah menamatkan pengajian di
Universiti Malaya pada 1981 dengan
m e m p e rolehi Ijazah Sarjana Muda
Undang-undang. Pada 1985 beliau
berkhidmat dengan Pernas Sime Darby
Holdings Sdn Bhd sebagai Penasihat
Undang-undang/Setiausaha Syarikat
Kumpulan. En Ruslan mempunyai 6 tahun
pengalaman sebagai peguambela dan
peguamcara. Pada 1993 beliau menyertai
Rashid Hussain Bhd (RHB) sebagai
Pengurus Besar Kanan Hal Ehwal Korporat
juga Ahli Jawatankuasa Eksekutif. Baru-
baru ini En Ruslan telah dilantik sebagai
pengarah Rashid Hussain Securities Sdn
Bhd. Beliau juga memegang jawatan
Pengarah dan ahli Jawatankuasa Audit
RHB.
Encik Ruslan Hassan
Executive Vice Chairman and
Executive Director, Corporate Affairs Division
En Ruslan joined PNSB on 1 November 1995 as Head of Corporate
Affairs Division. His appointments to date are to the PNSB Board on
26 December 1996, to the Board of Directors of PNHB on 24 April
1997 and as the Executive Vice Chairman of PNHB on 6 April 1999.
After obtaining a Bachelor of Law Degree from the University of
Malaya in 1981, he began his career as a Legal Advisor with Esso
Production Malaysia Inc. In 1985 he joined Pernas Sime Darby
Holdings Sdn Bhd as their Group Legal Advisor/Company Secretary.
En Ruslan has 6 years experience as an advocate and solicitor. In
1993 he joined Rashid Hussain Bhd (RHB) as Corporate Affairs
Senior General Manager and Executive Committee Member.
Recently, En Ruslan was also appointed to the Board of Rashid
Hussain Securities Sdn Bhd. He also sits on the Board of Directors
and Audit Committee of RHB.
11
From left to right • Dari kiri ke kanan: YBhg Dato’ Hari Narayanan Govindasamy, Ir Lee Miang Koi, YBhg Dato’ Rozali Ismail, En Abdul Majid Abdul Karim,Mdm Tan Bee Lian, En Ruslan Hassan, En Mat Hairi Ismail
Not in the picture • Tiada dalam gambar: YM Raja Azhar Raja Ismail
12
YM Raja Azhar Raja Ismail
Executive Director, Operations Division
As a director of PNSB since 17 March 1994, YM Raja Azhar was appointed to the PNHB Board of Directors on 24
April 1997. He obtained an Advanced Diploma in Business Management from the Institute of Commercial
Management, United Kingdom. As the Executive Director of the Operations Division, his responsibilities are
focused on the maintenance and management of all water treatment plants under the PCCA signed with the
Selangor State Government, and development of the SSP2 project under the CCOA. Previously, he was a Loan
Executive for Malaysia Building Society Berhad (1983-1984), Manager of Credit and Marketing for DCB Leasing
Sdn Bhd (1985-1991) and Director/General Manager of Aliran Resources (M) Sdn Bhd (1991-1994).
Encik Mat Hairi Ismail
Executive Director, Finance Division
Appointed to the PNSB Board of Directors on
24 May 1994 and then to the PNHB Board on
24 April 1997, En Mat Hairi is the Executive
Director, Finance Division and also a member
of PNHB’s Audit Committee. He graduated
from Universiti Kebangsaan Malaysia in 1985
with a Bachelor in Accounting (Hons) Degree.
In 1985 he started his career as an Accountant
at the Accountant General’s Office in Labuan,
and from 1989 to 1992 he served at the
Malaysian High Commission in London. His
last appointment was with the Langkawi
Development Authority (LADA) (1992-1994)
before joining PNSB. En Mat Hairi is also
an Executive Director and substantial
shareholder of U-Wood Holdings Berhad, a
Main Board company and WWE Holdings
Berhad, a Second Board company.
Encik Abdul Majid Abdul Karim
Independent Non-Executive Director
A PNSB Director since 17 March 1994, En
Abdul Majid was appointed to the PNHB
Board on 24 April 1997 as an Independent
Non-Executive Director. He is the Chairman of
P N H B ’s Audit Committee. He obtained a
Bachelor of Science (Hons) Degree in Civil
Engineering from the University of Glasgow,
United Kingdom in 1986. He began his career
as a Technical Assistant with the Urban
Development Authority (UDA) (1982-1983), as
P ro p e rty Executive at Boustead Holdings
Berhad (1986-1991) and subsequently as Sales
Engineer at UAC Berhad (1991-1993).
YM Raja Azhar Raja Ismail
Pengarah Eksekutif, Bahagian Operasi
Adalah pengarah PNSB semenjak 17 Mac 1994 dan dilantik
sebagai ahli Lembaga Pengarah PNHB pada 24 April 1997.
Beliau memiliki Diploma Lanjutan Pengurusan Perniagaan dari
Institute of Commercial Management, United Kingdom. Selaku
Pengarah Eksekutif Bahagian Operasi, tanggungjawab beliau
tertumpu kepada penyenggaraan dan pengurusan kesemua loji
pembersihan air di bawah PCCA yang ditandatangani dengan
Kerajaan Negeri Selangor dan pembangunan projek SSP2
dibawah CCOA. Beliau pernah berkhidmat sebagai Eksekutif
K redit di Malaysia Building Society Berhad (1983-1984),
Pengurus Kredit dan Pemasaran di DCB Leasing Sdn Bhd (1985-
1991) dan P e n g a r a h / P e n g u rus Besar Aliran Resources (M) Sdn
Bhd (1991-1994).
Encik Mat Hairi Ismail
Pengarah Eksekutif, Bahagian Kewangan
Dilantik sebagai ahli Lembaga Pengarah PNSB pada 24 Mei 1994
dan kemudian sebagai ahli Lembaga Pengarah PNHB pada 24
April 1997. En Mat Hairi adalah Pengarah Eksekutif, Bahagian
Kewangan juga ahli Jawatankuasa Audit PNHB. Beliau
memperolehi Ijazah Sarjana Muda Perakaunan (Kepujian) dari
Universiti Kebangsaan Malaysia pada 1985. Beliau memulakan
kerjayanya sebagai Akauntan di Pejabat Akauntan Negara di
Labuan pada 1985 dan antara 1989-1992 bertukar khidmat ke
S u ruhanjaya Tinggi Malaysia di London. Beliau telah
berkhidmat dengan Lembaga Pembangunan Langkawi (LADA)
(1992-1994) sebelum menyertai PNSB. En Mat Hairi juga
merupakan seorang Pengarah Eksekutif dan pemegang saham
utama U-Wood Holdings Berhad, sebuah syarikat Papan Utama
dan WWE Holdings Berhad, sebuah syarikat Papan Kedua.
13
Encik Abdul Majid Abdul Karim
Pengarah Bukan-Eksekutif Bebas
Dilantik sebagai ahli Lembaga Pengarah PNHB pada 24 April 1997 dan telah berkhidmat sebagai Pengarah PNSB
semenjak 17 Mac 1994. Beliau juga selaku Pengerusi Jawatankuasa Audit PNHB. En Abdul Majid memperolehi
Ijazah Sarjana Muda Sains (Kepujian) dalam bidang Kejuruteraan Awam dari University of Glasgow, United
Kingdom pada 1986. Beliau memulakan kerjayanya sebagai Pembantu Teknik di Lembaga Pembangunan Bandar
(UDA) (1982-1983), Eksekutif Hartanah di Boustead Holdings Berhad (1986-1991) dan kemudian sebagai Jurutera
Jualan di UAC Berhad (1991-1993).
Dato’ Hari Narayanan Govindasamy
Pengarah Bukan-Eksekutif Bebas
Dato’ Hari dilantik sebagai ahli Lembaga Pengarah PNHB
pada 1 Julai 1999 dan merupakan seorang ahli
Jawatankuasa Audit PNHB. Beliau memiliki Ijazah
Sarjana Muda dalam Kejuruteraan Elektrik dan
E l e k t ronik daripada Polytechnic of Newcastle-upon-
Tyne. Dato’ Hari adalah ahli Institut Jurutera Malaysia
dan Jurutera Profesional berdaftar dengan Lembaga
J u rutera Malaysia. Beliau juga berkhidmat sebagai
Pengarah Lembaga Lebuhraya Malaysia, Pengarah
Tenaga Nasional Berhad dan SP Setia Berhad.
Ir Lee Miang Koi
Pengarah Eksekutif,
Bahagian Projek dan Pembangunan Perniagaan
Ir Lee mula berkhidmat di PNSB pada 1995 dan
bertanggungjawab ke atas semua aspek pengurusan
p rojek pembangunan perniagaan bagi projek baru
bekalan air. Ir Lee dilantik sebagai Pengarah PNHB pada
1 September 1999. Beliau tamat pengajian dalam bidang
kejuruteraan daripada Universiti Technologi Malaysia
pada 1978 dan pada 1989 memperolehi Ijazah Sarjana
Kejuruteraan khusus dalam Kejuruteraan Bekalan Air
daripada Asian Institute of Technology di Bangkok. Ir Lee
mempunyai 23 tahun pengalaman dalam sektor bekalan
air dan telah menyandang pelbagai jawatan sewaktu
perkhidmatannya di Jabatan Kerja Raya dan Jabatan
Bekalan Air di Malaysia terutamanya dalam bidang
perkhidmatan bekalan air. Beliau adalah bekas Jurutera
Eksekutif Kanan di Jabatan Rekabentuk dan
Perancangan dan juga bekas Pengarah Jabatan Bekalan
Air, Negeri Sembilan (JBA). Beliau meninggalkan JBA
pada 1991 untuk berkhidmat dengan Ranhill Bersekutu
Sdn Bhd dimana beliau memegang pelbagai jawatan,
b e rmula dengan jawatan Jurutera Kanan sehingga
kepada Naib Presiden.
Dato’ Hari Narayanan Govindasamy
Independent Non-Executive Director
Dato’ Hari was appointed to the Board of PNHB on 1
July 1999. He is also a member of PNHB’s Audit
Committee. He holds a Bachelors Degree in Electrical
and Electronics Engineering from the Polytechnic of
Newcastle-upon-Tyne. He is a member of the Institute
of Engineers, Malaysia, a Registered Pro f e s s i o n a l
Engineer with the Board of Engineers, Malaysia and
a Director of the Malaysian Highway Board. He also
serves as a Director of Tenaga Nasional Berhad and SP
Setia Berhad.
Ir Lee Miang Koi
Executive Director,
Project & Business Development Division
Ir Lee joined PNSB in 1995, and is responsible for all
aspects of project management and business
development for new water supply projects. Ir Lee
was appointed as a Director of PNHB on 1 September
1999. He graduated as a civil engineer fro m
University of Technology Malaysia in 1978 and in
1989 obtained a Masters Degree in Engineering
majoring in water supply engineering from the Asian
Institute of Technology in Bangkok. Ir Lee has 23
years experience in the water supply sector and has
held various positions during his tenure with the
Public Works Department as well as the Waterworks
Department in Malaysia, especially in the field of
water supply services. He was a Senior Executive
Engineer in the Design and Planning Department and
also Director of the Negeri Sembilan Waterworks
Department (PWD). He left PWD in 1991 to join
Ranhill Bersekutu Sdn Bhd, holding positions from
Senior Engineer to Vice President.
14
Te rms of Refere n c e1 C o m p o s i t i o n
The Board shall elect an Audit Committee from amongst themselves (pursuant to a resolution of the Board ofDirectors), comprising of at least three (3) directors where the majority of them should not be:
i. Executive directors of the Company or any related corporation;ii. A spouse, parent, brother, sister, son or adopted son, daughter or adopted daughter of an executive
director of the Company or any related corporation; oriii. Any person having a relationship which, in the opinion of the Board of Directors, would interfere with the
exercise of independent judgement in carrying out the function of an audit committee.
The members of the Audit Committee shall elect a Chairman from amongst themselves who is not an executivedirector or employee of the Company or any related corporation. It would be advantageous if the Chairman
possesses a strong personality, have knowledge and experience in financialreporting, good leadership skill and is keen to get financial reporting andcontrols right.
All members of the Audit Committee, including the Chairman, will hold officeonly so long as they serve as Directors of the Company. Should any member ofthe Audit Committee cease to be a Director of the Company, his membership inthe Audit Committee would cease forthwith.
It is a desirable for membership on the Audit Committee to be rotated amongstall the Directors of the Company such that each director will serve a period ofthree (3) years on the Audit Committee.
If the members of the Audit Committee for any reason be reduced to belowthree (3), the Board of Directors shall within three (3) months of that event,appoint such number of new members as may be required to make up theminimum number of three (3) members.
Syarat-Syarat Rujukan1 K o m p o s i s i
Lembaga Pengarah akan melantik Jawatankuasa Audit di antara mereka(menurut satu resolusi Lembaga Pengarah), terdiri dari sekurang-kurangnyatiga (3) orang pengarah di mana bilangan majoriti antara mereka bukanlah:
i. Pengarah-pengarah eksekutif Syarikat atau mana-mana perbadananberkait;
ii. Seorang isteri atau suami, ibu atau bapa, adik perempuan atau kakak,anak lelaki atau anak angkat lelaki atau anak perempuan atau anakangkat perempuan seorang pengarah eksekutif Syarikat atau mana-manaperbadanan berkait; atau
iii. Seseorang yang mempunyai pertalian yang mana, mengikut pendapatLembaga Pengarah, akan menjejaskan pengadilan bebas di dalammenjalankan fungsi-fungsi satu jawatankuasa audit.
Ahli-ahli Jawatankuasa Audit hendaklah melantik seorang Pengerusi dariantara mereka yang bukan merupakan seorang pengarah eksekutif ataukakitangan Syarikat atau mana-mana perbadanan berkait. Ianya merupakansatu kelebihan sekiranya Pengerusi berkenaan memiliki personaliti disegani,pengetahuan dan pengalaman dalam pelaporan kewangan, dayakepimpinan yang baik, dan bersungguh-sungguh di dalam mencapaipelaporan dan kawalan kewangan yang betul.
Semua ahli Jawatankuasa Audit, termasuk Pengerusi, akan memegangjawatan selama mana mereka berkhidmat sebagai Pengarah-pengarahSyarikat. Seandainya seseorang ahli Jawatankuasa Audit tidak lagi menjadiPengarah Syarikat, keahliannya di dalam Jawatankuasa Audit dengan serta-merta ditamatkan.
Adalah dihematkan bahawa keahlian di dalam Jawatankuasa Auditdisilihgantikan antara Pengarah-pengarah Syarikat supaya setiap pengarahakan berkhidmat selama tiga (3) tahun dalam Jawatankuasa Audit.
Di mana ahli-ahli Jawatankuasa Audit dikurangkan dari tiga (3) orang atassebarang sebab apapun, Lembaga Pengarah dalam tempoh tiga (3) bulan daritarikh tersebut, hendaklah melantik sebilangan ahli-ahli baru mengikutkeperluan untuk mencukupkan bilangan minimum tiga (3) orang ahli.
a u d i t c o m m i t t e ej a w a t a n k u a s a a u d i t
Encik Abdul Majid Abdul KarimChairman Pengerusi
Encik Mat Hairi IsmailMember Ahli
YBhg Dato’ Hari NarayananGovindasamyMember Ahli
Mdm Tan Bee LianGroup Company SecretarySetiausaha Syarikat Kumpulan
15
2 O b j e c t i v e sThe primary objectives of the Audit Committee are to :i. Provide assistance to the Board in fulfilling its fiduciary responsibilities particularly in the areas relating to the
Company’s accounting and management controls, financial reporting and business ethics policies.ii. Provide greater emphasis on the audit function by increasing the objectivity and independence of external
and internal auditors and providing a forum for discussion that is independent of the management.iii. Maintain through regularly scheduled meetings a direct line of communication between the Board and the
external auditors, internal auditors and financial management.iv. Strengthening the role of non-executive directors by improving their knowledge and understanding of the
Company’s operation.v. Undertake such additional duties as may be appropriate and necessary to assist the Board. However, whether
or not the Audit Committee should undertake one or more of the additional duties rests on the Board’sviewpoint on corporate needs and the environment in which the Company operates.
2 O b j e k t i fObjektif-objektif utama Jawatankuasa Audit ialah untuk :i. Memberi bantuan kepada Lembaga Pengarah di dalam menunaikan tanggungjawab-tanggungjawab
biasanya terutama sekali di dalam hal-hal berhubung kawalan perakaunan dan pengurusan, pelaporankewangan dan dasar-dasar etika perniagaan Syarikat.
ii. Memberi penekanan yang lebih kepada fungsi audit melalui peningkatan objektiviti dan kebebasanjuruaudit dalaman dan luaran dan menyediakan forum untuk diskusi yang bebas dari pengurusan.
iii. Melalui mesyuarat-mesyuarat yang dijadualkan secara selalu, mengekalkan komunikasi terutama antaraLembaga Pengarah dan juruaudit luaran, juruaudit dalaman dan pihak pengurusan kewangan.
i v. Memantapkan peranan pengarah-pengarah bukan-eksekutif dengan mempertingkatkan pengetahuan sertakefahaman mereka berkenaan operasi Syarikat.
v. Melaksanakan tugas-tugas tambahan yang mana berpatutan dan perlu bagi membantu Lembaga P e n g a r a h .Walaubagaimanapun, samada Jawatankuasa Audit perlu melaksanakan atau tidak satu atau lebih t u g a s - t u g a stambahan bergantung kepada pandangan Lembaga Pengarah bersabit keperluan korporat dan suasana didalam mana Syarikat menjalankan operasi.
3 Duties and ResponsibilitiesIn fulfilling its primary objectives, the AuditCommittee will need to undertake the followingduties and responsibilities:
3 . 1 Oversee All Matters Relating to External andI n t e rnal Auditi. Review the annual audit plan with the external
auditors. The Committee shall meet with theexternal auditors prior to the commencement ofthe annual audit to discuss :- The general outline of the extent and timing
of the auditors’ proposed coverage of locationsuch as branches, departments, factories,divisions and subsidiaries.
- The nature of the audit procedures to bep e rf o rm e d .
- The extent of any planned reliance on thework of the internal auditors and theanticipated effect of this reliance on theexamination.
- Any significant accounting and auditingproblems that the auditors can foresee.
- The impact on the financial statements of anynew or proposed changes in accountingstandards or regulatory requirements.
- The effect on the audit of significant dataprocessing systems.
Following review of the plan, the Audit Committeemay request the external auditors to performadditional audit work directed to specific areas ofconcern to the Committee.ii. Oversee the internal audit department. The
Audit Committee in overseeing the internalaudit department will:
- Review the audit programme, scope,p e rf o rmance and findings of the intern a lauditors.
3 Tugas dan Ta n g g u n g j a w a bDi dalam menunaikan objektif-objektif utama,Jawatankuasa Audit perlu melaksanakan tugasdan tanggungjawab berikut :-
3 . 1M e m e rhatikan Semua Hal Berhubung AuditLuaran dan Dalaman.i. Menyemak rancangan audit tahunan bersama
dengan juruaudit luaran. Jawatankuasa akan hadir bersama juruaudit luaran sebelum bermulanya audit tahunan untukmembincangkan:-- Garispanduan am sejauh mana tahap serta
waktu cadangan peliputan lokasi sepert icawangan, jabatan, kilang, bahagian dan anaksyarikat oleh juruaudit.
- Bentuk pro s e d u r- p rosedur audit yang akandilaksanakan.
- Sejauh mana tahap sebarang kebolehperc a y a a nterancang terhadap bidang kerja juru a u d i tdalaman dan kesan dijangka dank e b o l e h p e rcayaan ini ke atas pemeriksaan.
- Sebarang masalah perakaunan danpengauditan yang ketara yang bolehdiramalkan oleh juru a u d i t :
- Kesan ke atas penyata-penyata kewangan darisebarang perubahan baru atau dicadangkan didalam piawaian perakaunan atau syarat-syaratkawalselia.
- Kesan ke atas audit sistem-sistem pemerosesandata yang penting.
Berikutan kajian rancangan berkenaan,Jawatankuasa Audit boleh meminta juru a u d i tluaran untuk melaksanakan kerja audit tambahanditumpukan kepada hal-hal spesifik Jawatankuasa.ii. M e m e rhatikan jabatan audit dalaman. Di
dalam m e m e rhatikan jabatan audit dalaman,Jawatankuasa Audit akan :-- Menyemak program audit, skop, prestasi dan
hasil penyiasatan juruaudit dalaman.
- Monitor the implementation of the programmeso that sufficient internal audit coverage isaccorded. In this respect, only the Committee canconsider and approve or otherwise, all requestsby senior management to utilise internal auditpersonnel for non-audit assignments.
- Assess the capacity of the internal auditd e p a rtment to fulfill its responsibilities byconsidering, amongst other things, the scope ofthe department’s authority as presented in thed e p a rt m e n t ’s chart e r, the qualifications andexperience level of its staff, the degree to whichi n t e rnal auditors are independent of theactivities they audit and the re p o rt i n grelationship between the head of internal audit,and senior management.
- Review the coordination of audit effort betweenexternal and internal auditors, where practical,with a view to maximising audit effectiveness andcontrolling external audit costs.
iii. Review the assistance and cooperation given bythe company’s officers to the external andinternal auditors.
i v. To nominate the external auditors fora p p o i n t m e n t .
v. The external and/or internal auditors shall havethe right to appear and be heard at any meetingof the Audit Committee and shall appear beforethe Audit Committee when required to do so bythe Audit Committee.
vi. Upon the request of the external and/or internalauditors, the Chairman of the Audit Committeeshall convene a meeting of the Committee toconsider any matters the auditors believe shouldbe brought to the attention of the Committee.
3 . 2 Evaluate the Standards of Internal Control andFinancial Report i n gi. Hold specific discussions with Senior Corporate
Management to discuss the overall adequacy ofthe internal control system.
ii. Meet with the internal and external auditorsconcerning their evaluation of the system ofinternal accounting controls.
iii. Consider the nature and disposition of therelevant comments appearing in the re p o rt sprepared by the internal auditors and in theexternal auditors’ management letter.
3 . 3 Review of Financial Statementsi. Meet with management and the external auditors
to discuss the annual financial statements of theCompany or Group and the results of the auditbefore recommending approval by the Board.
ii. Review the nature and resolution of anysignificant accounting and auditing problemsencountered during the examination.
iii.It is good practice for the Audit Committee tomeet the management at a regular interval toreview the results of the Company or Group, suchas quarterly review of the results.
iv. Review the nature of any related partytransactions that may arise within the Companyor Group.
v. Review the nature of any significant adjustments,reclassifications or additional disclosures proposedby the external auditors that are currentlysignificant or may become significant in thefuture.
- Mengawasi perlaksanaan program supayap e l i p u t a n audit dalaman yang memadai diberikan.Berhubung dengan ini, hanya Jawatankuasasahaja yang boleh mempertimbangkan danmeluluskan atau sebaliknya segala permintaandari pihak pengurusan kanan untukmenggunakan personel audit dalaman bagitugasan bukan-audit.
- Menilai kapasiti jabatan audit dalaman untukmenunaikan tanggungjawabnya denganmempertimbangkan, antara lain, skop bidangkuasa jabatan sepertimana dinyatakan di dalampiagam jabatan tahap kelayakan danp e n g a l a m a n kakitanganya: sejauh manaj u ruaudit dalaman bebas dari aktiviti-aktivitiyang mereka audit dan pelaporan pert a l i a nantara ketua juruaudit dalaman dengan pihakpengurusan kanan.
- Mengkaji koordinasi usaha audit antaraj u ru a u d i t - j u ruaudit luaran dan dalaman, di manapraktikal dengan tujuan memaksimumkankeberkesanan audit dan pengawalan kos auditluaran.
iii. Mengkaji bantuan dan kerjasama yang diberikanoleh pegawai-pegawai syarikat kepada juruaudit-juruaudit luaran dan dalaman.
iv. Mencalonkan juruaudit luaran untuk perlantikan.v. Juruaudit luaran dan/atau dalaman mempunyai
hak untuk hadir serta menyuarakan pendapatm e reka di sebarang mesyuarat JawatankuasaAudit dan hendaklah hadir di hadapanJawatankuasa Audit sekiranya diperlukan olehJawatankuasa Audit.
v i . Mengikut permintaan juruaudit luaran/ataud a l a m a n , P e n g e rusi Jawatankuasa Audithendaklah juga mengaturkan mesyuarat bagim e m p e rt i m b a n g k a n sebarang perkara yangmengikut kepercayaan juru a u d i t perlu dibawakepada perhatian Jawatankuasa.
3 . 2 Menilai Piawaian Kawalan Dalaman danPelaporan Kewangan.i. Mengadakan diskusi spesifik dengan pihak
P e n g u rusan Kanan Korporat bagimembincangkan kecukupan sistem kawalandalaman.
ii. Berjumpa dengan juruaudit-juruaudit luaran dandalaman berhubung penilaian sistem kawalanperakaunan dalaman.
iii. Mempertimbangkan bentuk dan disposisi komen-komen relevan yang muncul di dalam laporan-laporan yang disediakan oleh juruaudit dalamandan di dalam surat pengurusan juruaudit luaran.
3 . 3 Pengkajian Penyata-Penyata Kewangani . Berjumpa dengan pihak pengurusan dan juru a u d i t
luaran untuk membincang penyata-penyatakewangan tahunan Syarikat dan Kumpulan danjuga keputusan-keputusan audit sebelummengesyorkan pelulusan dari Lembaga Pengarah.
ii. Mengkaji bentuk dan resolusi sebarang masalahperakaunan dan pengauditan yang penting yangdihadapi semasa pemeriksaan.
iii. Adalah baik sekiranya Jawatankuasa Auditberjumpa dengan pihak pengurusan mengikutjangkawaktu yang kerap bagi mengkajikeputusan-keputusan Syarikat atau Kumpulan,contohnya pengkajian keputusan pada setiapsuku tahun.
iv. Mengkaji bentuk sebarang transaksi pihakberkait yang mungkin timbul dalam Syarikat atauKumpulan.
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vi. Review the adequacy of disclosure of the impact of any changes during the year in accounting policies,standards and/or regulatory requirements.
vii. Review the reasons for the major fluctuations in financial statement balances for the current year comparedto prior years.
viii.Review for any unusual circumstances or situations reflected in the financial statements, including identifyingany marginal operations.
ix. Review the nature of any unusual or significant commitments or contingent liabilities.x. Review of any significant differences between the annual report and other reports, such as reports to the
regulatory agencies.xi. Review for any significant differences in format or disclosure from industry norms.
v. Mengkaji bentuk sebarang pelarasan, klasifikasi semula atau pendedahan tambahan yang penting yangdicadangkan oleh juruaudit luaran yang penting pada status semasa mahupun akan menjadi penting di masaakan datang.
vi. Mengkaji kecukupan pendedahan sebarang perubahan dalam dasar-dasar, piawaian dan/atau syarat-syaratkawalselia perakaunan dalam tahun.
vii. Mengkaji sebab-sebab ketidakseimbangan besar di dalam baki penyata kewangan bagi tahun semasaberbanding tahun-tahun sebelumnya.
viii.Mengkaji sebarang keadaan atau situasi luar biasa yang dibayangkan dalam penyata-penyata kewangan,termasuk mengenal pasti sebarang operasi marginal.
ix. Mengkaji bentuk sebarang komitmen luar biasa atau penting atau liabiliti kontinjen.x. Mengkaji sebarang perbezaan nyata diantara laporan tahunan dan laporan-laporan lain, seperti laporan-
laporan kepada agensi-agensi kawalselia.xi. Mengkaji sebarang perbezaan nyata di dalam format ataupun pendedahan dari kebiasaan-kebiasaan
industri.
4 Access to Record sIn carrying out their duties and responsibilities, the Audit Committee will in principle have full, free andunrestricted access to all Company records, property and personnel.
4 Kebolehsampaian Kepada Rekod-RekodDi dalam menjalankan tugas dan tanggungjawab mereka, Jawatankuasa Audit hendaklah pada dasarnya, diberikebenaran sepenuhnya untuk meneliti rekod-rekod, hak-hak milik dan kakitangan Syarikat.
3 . 4 Additional Duties And Responsibilitiesi. Act upon the Board of Director’s request to
investigate and report on any issues or concernsin regard to the management of the Company.
ii. Review the Company’s business ethics code, themethod of monitoring compliance with thecode and the disposition of re p o rt e dexceptions.
iii. Review executive expenses.iv. Review policies on sensitive payments.v. Review compliance with certain government
regulations.vi. Review policies to avoid conflicts of interest and
review past or proposed transactions betweenthe Company and members of management.
vii. Review certain aspects of the Company’spension plan and compliance with relevantlaws and regulations.
viii.Assess the perf o rmance of financialmanagement.
ix. Such other functions as may be agreed to by theAudit Committee and the Board of Directors.
3 . 4 Tugas Dan Tanggungjawab Ta m b a h a ni . B e rtindak apabila diminta oleh Lembaga
Pengarah untuk menjalankan penyiasatan danpelaporan keatas sebarang perkara bersabit denganp e n g u rusan Syarikat.
ii. Mengkaji kod etika perniagaan Syarikat,kaedah mengawasi pematuhan kepada kodtersebut dan disposisi berkecualian yangdilaporkan.
iii. Menyemak belanja-belanja eksekutif.iv. Mengkaji dasar-dasar berhubung pembayaran-
pembayaran sensitif.v. Mengkaji pematuhan kepada syarat-syarat
tertentu Kerajaan.vi. Mengkaji dasar-dasar untuk mengelakkan
konflik dari segi kepentingan dan menyemaktransaksi dahulu dan dicadangkan antaraSyarikat dengan ahli-ahli pengurusan.
v i i . Mengkaji aspek-aspek tertentu rancanganpersaraan Syarikat dan pematuhan kepadaundang-undang dan syarat-syarat re l e v a n .
viii.Menilai prestasi pengurusan kewangan.i x . Apa saja fungsi yang dipersetujui oleh
Jawatankuasa Audit dan Lembaga Pengarah.
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5 Meetings and MinutesIt is good practise for the Audit Committee to hold a minimum of four (4) meetings a year, although additionalmeetings may be called at any time at the Chairman’s discretion. It would be desirable that the notice of meetingsbe sent at least seven (7) days before the time set for the meeting together with an agenda to all members ofthe Committee and any persons that may be required to attend. The recommended quorum for each meetingshall be three (3) members.
In addition to the Committee members, the head of internal audit will normally be in attendance at themeetings. R e p resentatives of the external auditors are to be in attendance at meetings where matters relating to theaudit of the statutory accounts and/or the external auditors are to be discussed.
The Chief Executive Officer and/or other appropriate officers may be invited to attend, except for those portions of themeetings where their presence is considered inappropriate, as determined by the Committee Chairm a n .
Minutes of each meeting shall be kept and distributed to each member of the Committee and also to the members ofthe Board. The Committee Chairman shall re p o rt on each meeting to the Board. The Secre t a ry to the Audit Committeeshall be the Company Secre t a ry.
5 Mesyuarat dan MinitAdalah menjadi amalan yang baik untuk Jawatankuasa Audit mengadakan sekurang-sekurangnya empat (4)mesyuarat dalam setahun, walaupun mesyuarat-mesyuarat tambahan boleh dipanggil pada bila-bila masamengikut budibicara Pengerusi. Adalah disarankan supaya notis mesyuarat-mesyuarat dihantar tidak kurang daritujuh (7) hari sebelum masa ditetapkan untuk mesyuarat bersama dengan agenda kepada semua ahliJawatankuasa dan mana-mana perseorangan yang diperlukan hadir. Korum yang disyorkan untuk setiapmesyuarat ialah tiga (3) orang ahli.
Sebagai tambahan kepada ahli-ahli Jawatankuasa, ketua juruaudit dalaman pada kebiasaannya akan hadir disetiap mesyuarat. Wakil-wakil juruaudit luaran hendaklah hadir di mesyuarat-mesyuarat di mana perkara-perkara berhubung dengan audit akaun-akaun berkanun dan/atau juruaudit luaran perlu dibincangkan.
Ketua Pegawai Eksekutif dan atau pegawai-pegawai berkenaan boleh dijemput hadir, kecuali di bahagian-bahagianmesyuarat di mana kehadiran mereka dianggap tidak perlu, yang ditentukan oleh Pengerusi Jawatankuasa.
Minit-minit mesyuarat hendaklah dicatit dan diedarkan kepada setiap ahli Jawatankuasa dan juga kepada ahli-ahli lain dalam Lembaga Pengarah. Pengerusi Jawatankuasa hendaklah mengemukakan laporan berkenaansetiap mesyuarat kepada Lembaga Pengarah. Setiausaha bagi Jawatankuasa Audit ialah Setiausaha Syarikat.
6 P e rf o rmance Review of the Audit CommitteeThe Audit Committee met four (4) times in 1999 on 19 March, 4 May, 5 August and 23 November, respectively. Atall of these meetings, there was full attendance of all the members and the internal auditor. The externalauditors were also invited to participate in the discussions on the annual and periodic financial statements of theCompany and the Group and the results of their audit prior to the Audit Committee’s deliberation andrecommendation for approval by the Board of Directors. The Audit Committee also reviewed the execution ofinternal controls on both financial and non-financial matters of the Company.
During the year under review, the Audit Committee identified, discussed and rectified the weaknesses ofprocedures or systems, for example the payroll system, petty cash, purchasing and time attendance system. Therelevant Heads of Department were called upon during the Audit Committee Meetings to explain on theirprocedures or systems and to update the Audit Committee on the appropriate actions taken to rectifyweaknesses which were identified during the course of the internal procedures and systems audits conducted bythe Internal Audit Department. These internal controls are necessary and are important to safeguard theCompany’s and the Group’s assets and the shareholders’ interests at all times.
The Audit Committee has exercised reasonable skill, care and diligence in the discharge of its duties andresponsibilities.
6 Kajian Prestasi Jawatankuasa AuditJawatankuasa Audit telah bermesyuarat sebanyak empat (4) kali pada tahun 1999, iaitu pada 19 Mac, 4 Mei, 5 Ogos dan 23 November. Di semua mesyuarat ini, kehadiran semua ahli adalah penuh termasuk juruauditdalaman. Juruaudit luar juga telah dijemput menyertai perbincangan mengenai penyata kewangan tahunan danberkala Syarikat dan Kumpulan juga hasil audit mereka sebelum Jawatankuasa Audit berbincang danmengesyorkan untuk kelulusan Lembaga Pengarah. Jawatankuasa Audit juga mengkaji pelaksanaan kawalandalaman dalam hal-hal kewangan dan bukan kewangan Syarikat.
Sepanjang tahun kajian, Jawatankuasa Audit telah mengenal pasti, berbincang dan membaiki kelemahan pro s e d u r-p rosedur atau sistem-sistem, misalnya dalam sistem daftar gaji, tunai runcit, pembelian dan sistem kedatangan masa.Ketua-ketua Jabatan berkenaan dijemput hadir semasa Mesyuarat Jawatankuasa Audit untuk memberi penjelasantentang pro s e d u r- p rosedur atau sistem-sistem jabatan masing-masing dan melaporkan perkembangan terkinikepada Jawatankuasa Audit mengenai langkah-langkah sesuai yang telah diambil untuk membaiki kelemahan yangtelah dikenal pasti semasa pengauditan sistem dan prosedur dalaman oleh Jabatan Audit Dalaman. Langkah-langkahkawalan dalaman ini memang diperlukan malah adalah penting untuk melindungi keselamatan aset Syarikat danKumpulan di samping menjaga kepentingan pemegang saham setiap masa.
Jawatankuasa Audit telah melaksanakan tugas dan tanggungjawab mereka dengan mahir, tekun dan teliti.
Studies have concluded that approximately half of allriverine systems worldwide are significantly polluted.Deforestation causes erosion, flooding, silting. The hazefrom land-clearing fires continues to plague the region.Plants and animals suffer, or perish. What can be done?
The collection, treatment and dissemination of water for mass consumption will almost always entailenvironmental consequences. Therefore, we must notmerely pay lip service to environmental causes. We mustwork to find the best solution to complex problems.
We must make the 21st century the “green century.” Wemust articulate our message strongly and consistently. Wemust lead by example. Because the land, the air, the sea,the lakes, the rivers, the flora and fauna require theutmost care. They are what make Malaysia beautiful,special and uniquely ours.
Bagaimana kita memulihara habitat semula jadi kita?Kajian-kajian telah membuat kesimpulan bahawa lebihkurang separuh daripada sistem sungai diseluruh duniat e rc e m a r. Pembasmian hutan mengakibatkan hakisan,banjir dan mendapan. Jerebu akibat pembakaran hutant e rus melanda rantau kita. Tumbuhan dan haiwanmenderita atau musnah. Apa yang boleh kita lakukan?
Memang tidak dapat dielakkan bahawa pengumpulan,rawatan dan pengagihan air untuk kegunaan orangramai akan menjejaskan alam sekitar. Oleh demikian, kitatidak seharusnya sambil lewa dalam perjuanganmemulihara alam persekitaran. Kita mesti giat berusahamencari penyelesaian terbaik untuk masalah rumit ini.
Kita harus bertekad untuk menjadikan abad ke 21 sebagai“abad hijau”. Kita perlu menyampaikan mesej kitadengan lantang dan senada. Kita perlu menunjukkanteladan. Yang penting, sekeliling daratan, udara, lautan,tasik, sungai, flora dan fauna memerlukan penjagaanyang paling sempurna kerana inilah yang menjadikanMalaysia indah, istimewa dan warisan unik kita.
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s e n i o r m a n a g e m e n tp e n g u r u s a n k a n a n
Encik Ibrahim Ismail Executive Director, Human Resources and Administration DivisionEn Ibrahim joined PNSB in April 1997 as General Manager of the Corporate Affairs Division and was promoted toExecutive Director of Human Resources and Administration Division on 1 March 2000. He graduated with aBachelor of Law Degree in 1981 from theUniversity of Malaya and holds a Master ofLaw Degree obtained in 1989 from theUniversity of London. Previously, he was inprivate practice and was also the Dean forthe Faculty of Law at Universiti KebangsaanMalaysia (1988-1992). He served withPetronas as Senior Legal Counsel in its GasDivision (1995-1996) and Senior Manager forthe Market Development Department ofMalaysia LNG Tiga Sdn Bhd (1996-1997). Hehas 18 years experience in various aspects oflitigation, conveyancing and corporatework.
Encik Ibrahim Ismail Pengarah Eksekutif, Bahagian Sumber Manusia dan PentadbiranEn Ibrahim Ismail menyertai PNSB pada April 1997 sebagaiP e n g u rus Besar, Bahagian Hal Ehwal Korporat and dilantiksebagai Pengarah Eksekutif, Bahagian Sumber Manusia andPentadbiran pada 1 Mac 2000. Beliau memperolehi Ijazah SarjanaMuda Undang-Undang dari Universiti Malaya pada 1981 danSarjana Undang-Undang dari University of London pada 1989.Sebelum ini, beliau pernah berkhidmat dengan firma guaman dan juga sebagai Dekan Fakulti Undang-Undang, UniversitiKebangsaan Malaysia (1988-1992). Beliau bertugas di Petro n a ssebagai Penasihat Perundangan Kanan, Bahagian Gas (1995-1996)dan Pengurus Kanan Jabatan Pembangunan Pemasaran bagisyarikat Malaysia LNG Tiga Sdn Bhd (1996-1997). Beliaumempunyai pengalaman selama 18 tahun dalam pelbagai aspeku rusan litigasi, hartanah dan korporat.
From left to right • Dari kiri ke kanan: Ir Beh Men Huat, Mdm Chan Siew Meei, Pn Rahana Abdul Rashid, En Azizul Nizam Bidin, En Sonari Solor, En IbrahimIsmail, En Adly Mohamed, Ir Loh Kit Mun, Mdm Tan Bee Lian, Mr Ng Wah Ta r
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Encik Azizul Nizam Bidin Executive Director, Puncak Seri (M) Sdn BhdEn Azizul was appointed Executive Director of Puncak Seri (M) Sdn Bhd, a wholly owned subsidiary of PNHB on24 September 1998. He holds a Diploma in Hotel Management from Stamford College, and a Diploma inManagement from the Malaysian Institute of Management (MIM). He has more than 9 years management andentrepreneurial experience in diversified operations gained from various ventures and collaboration with foreigncompanies in setting up local services that provide the vision and exposure for personal career development.
Encik Adly Mohamed General Manager,Training & Protective OperationEn Adly joined PNSB in 1997. He holds aDiploma in Business Studies from MARAInstitute of Te c h n o l o g y, a degree inBusiness Management in 1984 as well as aMasters Degree in Business Administrationin 1986 from Kent State University ofOhio, U.S.A. He has served as Consultantwith Alexander Proudfoot (M) Sdn Bhd,Kewangan Usaha Bersatu Berhad andBank Bumiputra (M) Bhd, SeniorConsultant with HRM ManagementConsultant (1987), Org a n i s a t i o nDevelopment Executive with MalaysiaAirlines (1988-1992) and BusinessDevelopment Manager with PermodalanNasional Berhad (1992-1996). Overall, hehas more than 14 years experience in the finance and investment sectors,consultancy and corporate services, as well as in business and org a n i s a t i o n a ldevelopment.
Ir Beh Men Huat General Manager,Project & Business DevelopmentIr Beh joined PNSB in February 1996 asManager of the Business DevelopmentD e p a rtment. He is now the GeneralManager, Project & Business Development.He graduated in 1982 with a BSc Degree in Civil Engineering from UniversityStrathclyde, Scotland. Prior to joiningPNSB, he worked with the Public WorksDepartment and Lembaga Air Perak. His18 years of working experience coversareas pertaining to project managementand water supply operation andmanagement.
Encik Azizul Nizam BidinPengarah Eksekutif, Puncak Seri (M) Sdn BhdEn Azizul dilantik sebagai Pengarah Eksekutif Puncak Seri (M) SdnBhd, sebuah syarikat milik penuh PNHB pada 24 September 1998.Beliau memiliki Diploma Pengurusan Hotel daripada Kolej Stamforddan Diploma Pengurusan dari Institut Pengurusan Malaysia (MIM).Beliau mempunyai pengalaman luas dalam bidang pengurusan dankeusahawanan setelah melibatkan diri selama lebih 9 tahun dalampelbagai usahasama dengan syarikat-syarikat asing bagimewujudkan perkhidmatan tempatan yang mana telahmemperluaskan peluang bagi kemajuan kerjaya peribadi.
Encik Adly Mohamed Pengurus Besar,Latihan dan Operasi KeselamatanEn Adly menyertai PNSB pada 1997. Beliau mempunyai DiplomaPengajian Perniagaan dari Institut Teknologi MARA, IjazahPengurusan Perniagaan pada 1984 dan juga Sarjana Pentadbiranpada 1986 dari Kent State University of Ohio, Amerika Syarikat.Beliau pernah berkhidmat sebagai Perunding dengan AlexanderProudfoot (M) Sdn Bhd, Kewangan Usaha Bersatu Berhad dan BankBumiputra (M) Bhd, Perunding Kanan dengan HRM ManagementConsultant (1987), Eksekutif Pembangunan Pertubuhan denganMalaysia Airlines (1988-1992) dan Pengurus PembangunanP e rniagaan di Permodalan Nasional Berhad (1992-1996). Padak e s e l u ruhannya, beliau mempunyai lebih dari 14 tahunpengalaman di dalam sektor kewangan, firma peru n d i n g a n ,pembangunan organisasi, pelaburan, perkhidmatan korporat danpembangunan perniagaan.
Ir Beh Men Huat Pengurus Besar,Projek dan Pembangunan PerniagaanIr Beh mula berkhidmat dengan PNSB pada Februari 1996 sebagaiP e n g u rus Jabatan Pembangunan Perniagaan. Beliau kiniberkhidmat sebagai Pengurus Besar, Projek dan PembangunanPerniagaan. Beliau memperolehi Ijazah Sarjana Muda Sains dalambidang Kejuruteraan Awam dari University Strathclyde, Scotlandpada 1982. Sebelum menyertai PNSB, beliau berkhidmat di JabatanKerja Raya dan Lembaga Air Perak. Pengalaman kerja beliau selama18 tahun meliputi bidang yang berkaitan dengan pengurusanprojek dan operasi serta pengurusan bekalan air.
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Madam Chan Siew Meei General Manager, LegalMdm Chan joined PNSB in May 1998 as General Manager, Legal. She obtained her Bachelor of Law Degree fromthe University of Malaya in 1981. During the course of her 19 year career, Mdm Chan has served as an advocateand solicitor, lecturer, company secretary and as legal adviser to two public listed companies. Her employmentportfolio covers very diverse activities ranging from the timber and plantation sectors to engineering, propertyand manufacturing. As such, apart from her legal and corporate duties, she has attained considerable experiencein administration, human resources and company secretarial work.
Ir Loh Kit Mun General Manager, Operation IIIr Loh joined PNSB in April 1998 and oversees theoperation, maintenance and rehabilitation of 27 WTPs,contract supervision, dam operations, water resourcesand environmental issues. Upon graduation from theUniversity of Malaya with a Bachelor of Civil EngineeringDegree in 1978, he worked as an engineer with theDrainage and Irrigation Department (1978-1980). Thenhe served as Chief Engineer (last designation) at SMHDSdn Bhd (1980-1993), Associate at Ranhill Bersekutu SdnBhd (1993-1995) and General Manager (Infrastructure) ofKL Linear City Sdn Bhd (1995-1998). His 22 years ofworking experience covers areas pertaining to drainage,h y d ro l o g y, water re s o u rces and supply, design andc o n s t ruction of dams, river engineering, drainage and flood mitigation, infrastru c t u re development,environmental assessment, management of engineeringprojects and operation of WTPs.
Mr Ng Wah TarGeneral Manager, Finance & AccountsMr Ng was articled with an accounting firm in 1984. He isa member of the Malaysian Institute of Accountants(MIA) and the Malaysian Association of Certified PublicAccountants (MACPA). After spending 10 years in theaccounting profession where he last served as AuditManager for 3 years, he joined United Engineers (M)Berhad (UEM) as the Accountant of its Trading Division in1994. He was subsequently promoted to Senior Manager,Finance in 1997 and then transferred to the ManagementServices Division overseeing the finance and accountingfunctions of UEM. After serving UEM for 6 years, hejoined PNSB in March 2000 as General Manager, Finance& Accounts.
Puan Chan Siew Meei Pengurus Besar, PerundanganPn Chan menyertai PNSB pada Mei 1998 sebagai Pengurus Besar, Perundangan. Beliaum e m p e rolehi Ijazah Sarjana Muda Peru n d a n g a ndari Universiti Malaya pada 1981. Sepanjang kerjayabeliau selama 19 tahun, Pn Chan telah bertugassebagai peguambela dan peguamcara, pensyarah,setiausaha syarikat dan penasihat undang-undangkepada dua buah syarikat awam tersenarai.Pengalaman beliau merangkumi pelbagai jeniskegiatan termasuk di dalam sektor pembalakan,ladang, kejuruteraan, hartanah dan pengilangan. Disamping urusan perundangan dan korporat, beliaujuga mempunyai pengetahuan luas di dalam urusanpentadbiran, sumber manusia dan kesetiausahaansyarikat.
Ir Loh Kit Mun Pengurus Besar, Operasi IIIr Loh menyertai PNSB pada April 1998 danbertanggungjawab dalam penyeliaan, pelaksanaan,pengendalian dan membaik pulih 27 loji-lojipembersihan air, penyeliaan kontrak, pelaksanaanempangan serta unit sumber air dan alam sekitar.Selepas tamat pengajian daripada Universiti Malayadengan memiliki Ijazah Sarjana Kejuruteraan Awampada 1978, beliau telah berkhidmat sebagai Juruteradi Jabatan Saliran dan Perparitan (1978-1980).Kemudian beliau berkhidmat sebagai KetuaJurutera (jawatan terakhir) di SMHD Sdn Bhd (1980-1983), Rakan Sekutu di Ranhill Bersekutu Sdn Bhd(1993-1995) dan Pengurus Besar (Infrastruktur) di KLLinear City Sdn Bhd (1995-1998). Pengalaman beliauselama 22 tahun merangkumi bidang tugas yangberkaitan dengan perparitan, hidrologi, sumber danbekalan air, rekabentuk dan pembinaan empangan,kejuruteraan sungai, perparitan dan pengawalanbanjir, pembangunan infrastruktur, penilaian alampersekitaran dan pengurusan projek kejuruteraandan perlaksanaan loji pembersihan air.
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Encik Ng Wah Tar Pengurus Besar, Kewangan dan AkaunEn Ng telah menjalani latihan kelayakan perakaunannya di sebuah firma perakaunan pada tahun 1984. Beliauadalah ahli Institut Akauntan Malaysia (MIA) dan Persatuan Akauntan Bertauliah Malaysia (MACPA). Setelahmenimba pengalaman selama 10 tahun di dalam bidang perakaunan, dengan 3 tahun terakhir sebagai PengurusAudit, beliau menyertai United Engineers (M) Berhad (UEM) sebagai Akauntan di Bahagian Dagangan pada1994. Beliau dinaikkan pangkat sebagai Pengurus Kanan, Kewangan pada 1997 dan kemudian dipindahkan keBahagian Perkhidmatan Pengurusan dan bertanggungjawab ke atas segala fungsi kewangan dan perakaunan diUEM. Setelah berkhidmat selama 6 tahun di UEM, beliau menyertai PNSB pada Mac 2000 sebagai Pengurus Besar,Kewangan dan Akaun.
Puan Rahana Abdul Rashid Pengurus Besar, Kewangan KorporatPn Rahana menyertai PNSB pada 1996sebagai Pengurus Besar, KewanganKorporat. Beliau memperolehi IjazahSarjana Muda Sains (Kewangan) dan jugaSarjana Pentadbiran Perniagaan dariIndiana State University, AmerikaSyarikat. Sebelum menyertai PNSB, beliaumerupakan ahli unit Kewangan Korporatdi Aseambankers Malaysia Bhd sejak 1987.Jawatan terakhir beliau di sana adalahsebagai Pengurus Kanan/Ketua KewanganKorporat. Beliau berpengalaman lebih 9 tahun dalam pelbagai aspek kewangankorporat seperti penggabungan,pengambilalihan, pengapungan dan hal-hal yang beru rusan dengan ekuitisyarikat-syarikat yang bergiat dalampelbagai jenis industri. Dalam jawatannya sekarang di PNSB, beliaub e rtanggungjawab ke atas kewajarankewangan bagi pro j e k - p rojek yangdikendalikan oleh Syarikat di sampingberkhidmat sebagai penasihat kewangankorporat.
Puan Rahana Abdul Rashid General Manager, Corporate FinancePn Rahana joined PNSB in 1996 as General Manager, CorporateFinance. She holds a Bachelor of Science (Finance) Degree as well asa Masters Degree in Business Administration from Indiana StateUniversity, U.S.A. Prior to joining PNSB, she was a member of theCorporate Finance team in Aseambankers Malaysia Bhd since 1987,her last position there being Senior Manager/Head of CorporateFinance. She has over 9 years experience in various aspects ofcorporate finance such as mergers, takeovers, flotations andmatters dealing with equity of the various companies operating indiversified industries. In her present position in PNSB, she isprimarily responsible for the financial feasibility of pro j e c t sundertaken by the Company as well as serving as a corporatefinance advisor.
Encik Sonari Solor General Manager, Internal AuditEn Sonari has more than 10 years experience in auditing andaccountancy in public listed companies dealing in pro p e rt ydevelopment, manufacturing, timber and consultancy services. He is a fellow member of The Chartered Association of CertifiedAccountants (UK) and also holds a professional qualification fromThe Chartered Institute of Management Accountants (UK). Prior tojoining PNSB in 1998, he served as Group Divisional Chief, Internaland Management Audit of Land & General Berhad, Chief OperatingOfficer of Sepakat Computer Consultants Sdn Bhd, Audit Managerof DMIB Berhad and Accountant of Utusan Melayu Berhad.
24
Encik Sonari Solor Pengurus Besar, Audit DalamanEn Sonari adalah seorang ahli fellow ‘The Chartered Association of Certified Accountants (UK)’ dan jugamempunyai kelulusan profesional dari ‘The Chartered Institute of Management Accountants (UK)’. Beliauberpengalaman lebih 10 tahun dalam jurusan audit dan perakaunan dalam syarikat tersenarai yang terlibatdalam pembangunan hartanah, perkilangan, pembalakan dan perkhidmatan pakar runding. Sebelum menyertaiPNSB pada 1998, beliau pernah berkhidmat sebagai Ketua Bahagian Kumpulan, Audit Dalaman dan PengurusanLand & General Berhad, Ketua Pegawai Operasi Sepakat Computer Consultants Sdn Bhd, Pengurus Audit DMIBBerhad and Akauntan Utusan Melayu Berhad.
Puan Tan Bee Lian Setiausaha Syarikat Kumpulan/ Pengurus Besar, KesetiausahaanPn Tan mempunyai lebih 11 tahunpengalaman dalam bidang kesetiausahaankorporat dalam syarikat awam dan swasta.Beliau telah berkhidmat dengan KumpulanPNHB lebih 5 tahun dan terlibat dalampenyenaraian PNHB di Papan Utama BursaSaham Kuala Lumpur pada 8 Julai 1997. PnTan mula berkhidmat di PNSB pada November1994 sebagai Setiausaha Syarikat dankemudian dinaikkan pangkat sebagaiSetiausaha Syarikat Kumpulan pada Januari1998 dan seterusnya dinaikkan pangkatsebagai Pengurus Besar, Kesetiausahaan padaMac 2000. Beliau adalah graduan Institute ofC h a rt e red Secretaries and Administrators(ICSA) dan memperolehi kelayakankesetiausahaannya pada 1991. Sebelumberkhidmat di PNSB, beliau bertugas diJabatan Kesetiausahaan dan Undang-UndangP rojek Lebuhraya Utara-Selatan Berh a d(PLUS) dan merupakan Penolong SetiausahaSyarikat bagi Metramac Corporation Sdn Bhd/Metacorp Berhad, sebuah syarikat yangtersenarai di Papan Kedua Bursa Saham KualaLumpur.
Madam Tan Bee LianGroup Company Secretary/ General Manager, SecretarialMdm Ta n has more than 11 years corporate secre t a r i a lexperience in both private and public listed companies. She hasbeen with PNHB Group for more than 5 years and was involvedin the successful listing of PNHB on the Main Board of KualaLumpur Stock Exchange on 8 July 1997. She joined PNSB inNovember 1994 as Company Secretary and was promoted toGroup Company Secretary in January 1998. Recently, Mdm Tanwas further promoted to General Manager, Secretarial in March2000. She is a graduate of the Institute of Chartered Secretariesand Administrators (ICSA) and attained associateship in 1991.Prior to joining PNSB, she worked in the Secretarial & LegalDepartment of Project Lebuhraya Utara-Selatan Berhad (PLUS)and was the Assistant Company Secre t a ry of MetramacCorporation Sdn Bhd/Metacorp Berhad, a company listed on theSecond Board of Kuala Lumpur Stock Exchange.
25
Technology allows us not only to build better dams,t reatment and distribution networks. It also enables us tom o re effectively monitor the efficiency of ourmanagement systems; to predict potential trouble spotsb e f o re they become a problem and, in the event ane m e rgency arises, to be able to meet, contain and re s o l v ei t .
We are well on our way to achieving one of the highestlevels of automation and technological integration inwater management in the South East Asia region. Inparticular, the information technology promises to bringabout profound changes in increased performance ande ff i c i e n c y, enhanced safety, while at the same timekeeping water charges at a reasonable rate.
Bagaimana cara terbaik untuk kita menjana teknologi?Teknologi bukan sekadar membolehkan kitamempertingkatan pembinaan empangan dan rangkaianrawatan dan agihan air. Malah ianya juga memudahkanpemantauan kecekapan sistem pengurusan kita denganberkesan; mengesan awal petanda-petanda gangguansebelum menjadi masalah dan mampu menghadapi,menyekat dan menyelesaikan masalah tersebut sekiranyaberlaku kecemasan.
Usaha kita untuk mencapai tahap automasi dan integrasiteknologi termaju dalam pengurusan air di rantau AsiaTenggara sudah menampakkan hasil. Te ru t a m a n y a ,teknologi maklumat menjanjikan perubahan ketaradalam peningkatan prestasi, kecekapan, keselamatan danpada masa yang sama, memastikan kadar caj air yangmunasabah.
27
Introduction
As we enter the new millennium, our Company can look back with pride at all
that we have accomplished in so short a period of time. At the same time, we
can look ahead to the future with both confidence and a renewed sense of
commitment.
Just six years ago, we founded Puncak Niaga (M) Sdn Bhd (PNSB), and
commenced on an ambitious undertaking: to take over, operate, maintain,
manage, rehabilitate and refurbish 27
water treatment plants, which would
supply the bulk of the nation’s current
and future water needs.
In 1995, PNSB was awarded a major
contract to build and operate
Malaysia’s largest and most modern
water treatment facility– SSP2.
Soon after came another milestone:
Puncak Niaga Holdings Berhad (PNHB)
became the first water supply
infrastructure company to be listed on
the KLSE Main Board– an impressive
achievement for any company– and
demonstrated that we had become a
major water industry player.
1998 was a period of crisis and
challenge; the Klang Valley experienced
a water shortage sparked by a severe
d rought. This, compounded by the
re g i o n ’s ongoing economic turm o i l ,
proved to be a trying time. Yet, as
the inevitable problems arose, we
o v e rcame them. Adversity made us
s t rong; it tested our mettle as it
demonstrated our expertise.
Today, with 62% of market share, PNSB
is by far the largest supplier of treated
water in Selangor and the Federal
Territory. When SSP2 is fully completed
in December 2000, that figure will rise
to 68%.
P e n g e n a l a n
Setelah kami melangkah ke alaf baru, Syarikat kami kini boleh
mengimbau kembali dan berasa megah dengan kejayaan yang telah
dicapai dalam tempoh yang singkat. Sekali gus kami juga turut
terangsang dan berkeyakinan untuk menghadapi tahun-tahun
mendatang dengan lebih bersemangat dan penuh komitmen.
Baru enam tahun lalu, kami mengasaskan Puncak Niaga (M) Sdn Bhd
(PNSB) dan berazam mencapai satu cita-cita tinggi: mengambilalih,
mengendali, menyenggara, mengurus, membaik pulih dan
melengkapkan 27 buah loji pembersihan air, yang akan membekal
sebahagian besar keperluan air negara, kini dan masa depan.
Pada 1995, PNSB telah dianugerahkan kontrak utama untuk membina
dan mengendalikan loji pembersihan air yang paling besar dan
tercanggih di Malaysia– SSP2.
Tidak lama kemudian, Puncak Niaga Holdings Berhad (PNHB) mencatat
satu lagi sejarah penting sebagai sebuah syarikat infrastruktur bekalan
air yang pertama disenaraikan di Papan Utama Bursa Saham Kuala
Lumpur– satu kejayaan cemerlang bagi mana-mana syarikat– dan
membuktikan kemampuan kami sebagai pemain utama dalam industri
a i r.
c h a i r m a n ’ s s t a t e m e n tk e n y a t a a n p e n g e r u s i
A view of the lake at Klang Gates DamPemandangan tasik di Empangan Klang Gates
28
1999 has brought record profitability to the Company. Yet perhaps just as
importantly, the past year also demonstrated the high level of confidence in
the Company’s perf o rmance and long-term earnings potential among
investors, financial institutions and markets both here and abroad, and
governmental bodies.
These are indeed exciting and rewarding times for our Company, as we enter
the new millennium invigorated, confident and poised to make even greater
strides in the year 2000 and beyond.
As the ASEAN region bounces back, we see even further opportunities for
growth. In an era of increased globalisation, strained government budgets and
the imperatives of continued industrialisation and modernisation, PNSB is
carefully assessing potential markets and water infrastructure projects in order
to best take advantage of its position as one of the leading regional players.
We also recognize the role of enlightened water resource management in
sustaining social and economic progress, while at the same time taking
appropriate steps to ensure the well-being of our natural resources and of the
environment as a whole. We must strike a balance between growth, progress
and pre s e rvation. This will be our
greatest challenge; when we succeed it
may well become our greatest legacy.
PNSB has taken a leadership role
in educating the public, and
particularly the younger generation,
on the importance of protecting this
s c a rce and valuable re s o u rce. This
f o rms the centrepiece of our
blueprint for prudent water resource
management; one which will marshal
the energies of the entire population
in ensuring a safe and sufficient water
supply well into the 21st century.
1998 merupakan tahun yang dilanda dengan pelbagai krisis dan
cabaran: Lembah Klang mengalami kekurangan bekalan air akibat
musim kemarau yang paling teruk. Kemelut ekonomi serantau yang
berterusan menggawatkan lagi keadaan. Namun demikian, segala
masalah yang timbul dapat kami atasi. Kesusahan menjadikan kami
lebih tabah dan teguh; kecekalan kami teruji dan kepakaran kami
jelas terbukti.
Kini, PNSB membekalkan 62% daripada keperluan air dan merupakan
pembekal air bersih yang terbesar di Selangor dan Wi l a y a h
Persekutuan. Peratusan ini akan meningkat kepada 68% apabila
projek SSP2 siap sepenuhnya pada Disember 2000.
Tahun 1999 Syarikat terus mencatatkan rekod keuntungan.
Pencapaian ini jelas membuktikan peningkatan keyakinan terhadap
prestasi Syarikat dan potensi pendapatan jangka panjang di kalangan
pelabur, institusi dan pasaran kewangan dalam dan luar negara, juga
badan-badan kerajaan.
Perkembangan sepanjang tahun 1999 paling mendebar sert a
memanfaatkan Syarikat kami. Pengalaman inilah yang membolehkan
kami melangkah ke alaf baru dengan semangat baru yang lebih
cergas, yakin dan bersedia untuk menghadapi cabaran yang lebih
hebat pada tahun 2000 dan seterusnya.
A majestic view of the Klang Gates DamPemandangan Empangan Klang Gates
29
Financial Performance
It gives me great pleasure to announce
a sterling financial performance by the Group,
with all major indicators doubling over the past
year. These gains are all the more substantive in
light of the fact that 1998 itself saw impressive
gains and a healthy balance sheet.
The Group achieved a turnover of RM347,472,486
for the year ended 31 December 1999, compared
to RM183,415,236 in 1998, an increase of 89%,
while after-tax profit amounted to RM98,971,517
a 73% increase over the previous year.
Earnings per share based on profit attributable to
shareholders almost doubled to 39.59 sen this
year, from 22.89 sen the previous year.
This solid perf o rmance reflects the deep
commitment and hard work of the entire
Management and staff of our Company, and on
behalf of the Board of Directors of the Company,
I would like to congratulate all of them on a job
well done.
Our North Hummock WTPLoji Pembersihan Air North Hummock kami
Berikutan pemulihan ekonomi rantau ASEAN, banyak lagi
peluang perkembangan yang dapat kami terokai. Dalam
era peningkatan globalisasi, pengurangan belanjawan
kerajaan dan kesemarakan perindustrian dan
pemodenan, PNSB sedang menilai teliti pasaran dan
projek infrastruktur air berpotensi bagi memanfaatkan
kedudukannya sebagai salah satu pemain industri yang
terulung di rantau ini.
Kami juga mengiktiraf peranan
p e n g u rusan sumber air dalam
memelihara kesejahteraan
ekonomi dan sosial, serentak
itu mengambil langkah-langkah
sesuai bagi memastikan
kesejahteraan sumber alam
semula jadi sekeliling tidak
terjejas. Kami perlu kemajuan dan
pemuliharaan. Inilah cabaran
paling hebat kepada kami; jika
kami berjaya, kemenangan inilah
yang akan menjadi warisan kami
yang abadi.
PNSB juga telah menerajui peranan untuk mendidik orang
awam, khususnya generasi muda, mengenai pentingnya
pemeliharaan sumber air yang bernilai dan semakin
berkurangan. Inilah asas rangka tindakan kami dalam
p e n g u rusan air berhemat yang akan menggembleng
tenaga semua penduduk bagi memastikan bekalan air
yang selamat dan mencukupi sehingga abad ke 21.
P restasi Kewangan
Saya dengan bangganya mengumumkan pre s t a s i
kewangan yang cemerlang oleh Kumpulan dengan
menunjukkan peningkatan yang berganda berbanding
tahun lalu. Pertambahan ini amat terserlah
memandangkan prestasi pada tahun 1998 yang
menunjukkan keuntungan yang mengkagumkan dan
lembaran imbangan yang cukup teguh.
Kumpulan mencapai perolehan sebanyak RM347,472,486
bagi tahun berakhir 31 Disember 1999, berbanding
dengan RM183,415,236 pada 1998, iaitu kenaikan
sebanyak 89%. Justeru itu, keuntungan selepas cukai bagi
tahun kewangan berjumlah RM98,971,517 iaitu kenaikan
sebanyak 73% berbanding dengan tahun lalu.
The aeration process at SSP2Proses pengudaraan di SSP2
Corporate Governance
Another factor which has certainly helped spur growth in the Company is a
strong ethic of good corporate policies and decision-making processes that
are transparent and disclosure-based. The recent economic downturn has led
us to redouble our efforts to maintain appropriate standards of corporate
responsibility and accountability, to provide greater disclosure and
transparency, and to ensure a corporate environment that is based on
meritocracy, initiative and innovation.
This is particularly evident in
the Company’s share h o l d e r
communications and investor
relations, where we promote and
encourage bilateral share h o l d e r
communication through active
participation at the Company’s general
meetings and the dissemination of
quality and timely information to
investors, analysts and the public at
large.
Transparency in our business activities
also continues to be a strong
Company asset, as we endeavour to
keep our shareholders, investors, and
the public well-informed on the
Company’s progress and direction.
We are taking even further steps to
promote a sense of partnership and
participation, with a long-term plan to
create a proactive Investor Relations
Programme to promote the Company
and to provide frank and fair
evaluation of the Company’s strengths
and growth potential.
Pendapatan sesaham berdasarkan keuntungan yang diagihkan
kepada pemegang-pemegang saham hampir berganda sehingga
39.59 sen pada tahun ini berbanding dengan 22.89 sen tahun lalu.
Prestasi cemerlang ini mencerminkan komitmen jitu dan kegigihan
sepadu pihak pengurusan dan setiap kakitangan Syarikat kami dan
bagi pihak Lembaga Pengarah, saya ingin mengucapkan syabas
kepada mereka semua atas kejayaan ini.
Penguasaan Korporat
Satu lagi faktor yang telah membantu Syarikat berkembang maju
ialah penguasaan korporat yang berhemah dan beretika. Segala
polisi pengurusan dan proses membuat keputusan Syarikat adalah
berasaskan dasar yang telus dan terbuka. Kemerosotan ekonomi
baru-baru ini telah mendorong kami untuk melipatgandakan usaha
bagi mengekalkan tahap tanggungjawab dan skop tugasan korporat
yang bersesuaian, membolehkan pelaksanaan tugas yang lebih
terbuka dan telus di samping memastikan amalan korporat yang
berdasarkan meritokrasi, inisiatif dan inovasi.
Dasar ini begitu ketara terutamanya dalam komunikasi pemegang
saham dan perhubungan pelabur Syarikat yang menggalakkan
komunikasi dua hala melalui penglibatan aktif pemegang-pemegang
saham di mesyuarat agung Syarikat dan penyibaran maklumat yang
tepat serta berkualiti kepada para pelabur, penganalisa dan orang
awam.
Ketelusan aktiviti perniagaan kami merupakan aset kukuh Syarikat
selaras dengan keazaman kami untuk memaklumkan berita terkini
kepada pemegang-pemegang saham kami, para pelabur dan orang
ramai mengenai perkembangan dan hala tuju Syarikat.
State-of-the-art machinery at SSP2Kejenteraan mutakhir digunakan di SSP2
30
31
Kami sedang mengambil langkah-
langkah susulan untuk menjalin
semangat perkongsian dan
p e n y e rtaan dengan rancangan
jangka panjang untuk mewujudkan
P rogram Hubungan Pelabur pro - a k t i f
b e rtujuan mempromosi Syarikat
dan menyediakan penilaian adil
mengenai kekuatan dan potensi
pertumbuhan Syarikat.
Cadangan Terbitan Komposit
Pada 12 November 1999, Lembaga
Pengarah mengumumkan Cadangan
Terbitan Komposit yang terd i r i
daripada:
1. Cadangan terbitan bonus sebanyak
125,000,000 saham biasa baru pada
harga RM1.00 setiap satu atas dasar
satu (1) saham biasa baru bagi setiap
dua (2) saham biasa sedia ada
(‘Cadangan Terbitan Bonus’); dan
2. Cadangan terbitan hak sebanyak
62,500,000 saham biasa baru pada
harga RM1.00 setiap satu atas dasar
satu (1) saham biasa baru bagi setiap
empat (4) saham sedia ada dalam
Syarikat pada harga terbitan RM1.50
setiap satu (‘Cadangan Te r b i t a n
Hak’).
Proposed Composite Issue
On 12 November 1999, the Board of Directors of the Company
announced a Proposed Composite Issue comprising:
1. A proposed bonus issue of 125,000,000 new ordinary shares of
RM1.00 each on the basis of one (1) new ordinary share for every
two (2) existing ordinary shares (‘Proposed Bonus Issue’); and
2. A proposed rights issue of 62,500,000 new ordinary shares of
RM1.00 each on the basis of one (1) new ordinary share for every
four (4) existing shares held in the Company at an issue price of
RM1.50 per share (“Proposed Rights Issue”).
The implementation of the Proposed Composite Issue is subject to the
approvals being obtained from the Securities Commission (“SC”), the
Kuala Lumpur Stock Exchange (“KLSE”) and shareholders of the
C o m p a n y. The proceeds from the Proposed Composite Issue
amounting to RM93,750,000 is to finance the working capital
requirements of the Group and expenses for the Proposed Composite
Issue.
The Company has, through its merchant banker, RHB Sakura
Merchant Bankers Berhad, submitted the application to the SC on 28
January 2000 to obtain the SC’s approval on the Proposed Composite
Issue. On behalf of the Board of Directors of the Company, I am
pleased to inform you that the SC has granted its approval on 20 April
2000. We will seek the shareholders’ approval for the Proposed
Composite Issue at an Extraordinary General Meeting to be held at a
date to be determined.
The entire exercise is expected to be completed by the second half of
year 2000 with the listing and quotation of 187,500,000 new ordinary
shares of the Company on the KLSE. The share capital of the Company
will thereafter be enlarged to 437,500,000 ordinary shares of RM1.00
each.
Kuala Kubu Bahru WTPLoji Pembersihan Air Kuala Kubu Bahr u
32
Pelaksanaan Cadangan Terbitan Komposit adalah tertakluk
kepada kelulusan Suruhanjaya Sekuriti, Bursa Saham Kuala
Lumpur (‘BSKL’) dan pemegang saham Syarikat. Hasil daripada
Cadangan Terbitan Komposit berjumlah RM93,750,000 akan
digunakan untuk membiayai keperluan modal kerja
Kumpulan dan pebelanjaan Cadangan Terbitan Komposit.
Melalui jurubank saudagar kami, RHB Sakura Merc h a n t
Bankers Berhad, Syarikat telah mengemukakan permohonan
kepada Suruhanjaya Sekuriti pada 28 Januari 2000 untuk
m e m p e rolehi kelulusan mengenai Cadangan Te r b i t a n
Komposit. Bagi pihak Lembaga Pengarah Syarikat, saya
dengan sukacitanya memaklumkan bahawa Suru h a n j a y a
Sekuriti telahpun memberi kelulusan pada 20 April 2000. Kami
akan mendapatkan kelulusan pemegang saham di Mesyuarat
Agung Luar Biasa yang akan diadakan pada suatu tarikh yang
akan ditetapkan.
K e s e l u ruhan kegiatan ini dijangka terlaksana sepenuhnya
pada pertengahan kedua tahun 2000 dengan penyenaraian
dan sebut harga 187,500,000 saham biasa baru Syarikat di
BSKL. Modal saham Syarikat akan meningkat kepada
437,500,000 saham biasa pada harga RM1.00 setiap satu.
P e n g i k t i r a f a n
Saya dengan bangganya mengumumkan bahawa pada 1999
Syarikat kami telah mendapat pengiktirafan istimewa
daripada sektor awam dan swasta. Pada bulan Januari, stok
Syarikat telah disenaraikan dalam Indeks Komposit BSKL
bersama-sama kategori “saham terpilih”. Ini meru p a k a n
petunjuk paling menonjol bagi prestasi Syarikat kami,
kekukuhan dasar pendapatannya dan tahap keyakinan
golongan sektor kewangan terhadap Syarikat.
Recognition
I am proud to inform you that our Company
achieved special recognition in 1999 from
both the public and private sectors. In
January, the Company’s stocks were included
on the KLSE Composite Index, where it joined
the country’s vaunted “blue chips.” This is an
e x t remely impressive indicator of our
Company’s performance, its strong earnings
base and the confidence in which it is held by
the financial community.
In November, PNHB won the coveted National
Annual Corporate Report Awards (NACRA)
I n d u s t ry Excellence Aw a rd for the
“ C o n s t ruction & Infrastru c t u re Pro j e c t
Companies” category. The award recognises
corporate excellence in the presentation of
timely and accurate business information.
Installation of the precast filter slabs at SSP2 Phase 2Pemasangan acu kepingan konkrit siap pada struktur penapisan di SSP2 Fasa 2
The newly built aerator structure, part of SSP2 Phase 2Struktur proses pengudaraan yang baru dibina, sebahagian dari SSP2 Fasa 2
33
Pada bulan November pula, PNHB telah memenangi
Anugerah Kecemerlangan Industri NACRA bagi
kategori “Pembinaan dan Syarikat Projek I n f r a s t ru k t u r ” .
Anugerah ini mengiktiraf kecemerlangan k o r p o r a t
dalam pembentangan maklumat perniagaan yang
tepat dan cepat.
Kemudian pada bulan Disember, PNHB disenaraikan
dalam Morgan Stanley Capital International Standard
Index (MSCI) yang membuka penyertaan kepada
pelabur asing dari seluruh dunia. Langkah ini sudah
pasti akan meningkatkan nilai saham Syarikat. Ini
adalah satu pencapaian penting bagi mana-mana
syarikat, terutamanya syarikat projek infrastru k t u r,
yang sekali gus menandakan kemunculan kami dalam
pasaran global.
Tinjauan Masa Depan
Setelah melangkah ke tahun 2000, Syarikat akan
m e n e ruskan usaha memperluas dan mengukuhkan
pasaran yang sedia ada sementara menerokai pasaran
b a ru secara agresif. Bagi memastikan peningkatan
pertumbuhan dan keuntungan Syarikat, kami akan
menjalin perkongsian dan pakatan strategik baru
dalam industri yang mampu mengukuhkan hubungan
sinergi, mengurangkan kos dan meningkatkan prestasi
dan keuntungan. Kami akan terus memberi tumpuan
kepada perniagaan teras Syarikat dalam industri
bekalan air yang merangkumi kejuruteraan air,
rawatan, pengagihan, pengurusan dan pembinaan dan
pada masa yang sama membangunkan kegiatan hilir
dan aktiviti perniagaan yang berkaitan.
Then in December, PNHB was included in the
M o rgan Stanley Capital International (MSCI)
S t a n d a rd Index, which effectively opens
participation to foreign investors from around the
world. This in turn is certain to create even more
value for the Company. It represents a significant
achievement for any company, especially an
i n f r a s t ru c t u re project company, and marks our
emergence in the global market.
Looking Ahead
As we enter the year 2000, the Company will
continue to expand and consolidate existing markets
while aggressively pursuing new markets. To ensure
even greater growth and pro f i t a b i l i t y, we are
f o rging new partnerships and strategic alliances
within the industry which will create stro n g e r
synergies, reduce costs, and improve performance
and profitability. We will continue to concentrate on
our core business in the water supply industry,
which comprises water engineering, tre a t m e n t ,
distribution, management and construction, while at
the same time developing downstream and related
business activities.
Going Concern Statement
I would like to take this opportunity to convey a
statement from the Board of Directors, that, after
conducting due and reasonable enquiry into the
affairs of the Company, the Board of Directors firmly
believe the Company shall continue to operate as a
going concern business in the foreseeable future.
Signing Ceremony for the Second Amendment to the Construction CumOperation AgreementMajlis Menandatangani Pindaan Kedua ke atas Perjanjian Pembinaan danOperasi
34
Kenyataan Kesinambungan Syarikat
Saya ingin mengambil peluang ini untuk menyampaikan satu kenyataan
daripada Lembaga Pengarah bahawa setelah melaksanakan siasatan
terperinci dalam hal ehwal Syarikat, Lembaga Pengarah yakin sepenuhnya
bahawa Syarikat akan terus beroperasi sebagai perniagaan yang
berkesinambungan.
P e n g h a rg a a n
Bagi pihak Lembaga Pengarah, saya ingin merakam ucapan terima kasih dan
penghargaan kepada semua pemegang saham kami, pelanggan budiman
kami dan juga para pengguna kami atas sokongan dan keyakinan anda yang
berterusan terhadap Syarikat kami.
Kami juga ingin menyampaikan ucapan terima kasih kepada Kerajaan
Persekutuan, Kerajaan Selangor, Jabatan Bekalan Air Selangor, jabatan
kerajaan dan badan berkanun berkaitan, pertubuhan bukan kerajaan, bank-
bank dan institusi kewangan lain serta rakan-rakan perniagaan yang telah
memberi sokongan dan bekerja bersama kami pada tahun 1999 dan tahun-
tahun sebelumnya.
Akhir kata izinkan saya merakamkan setinggi-tinggi
penghargaan kepada pihak Pengurusan dan kakitangan
kami atas usaha, komitmen dan semangat dedikasi
cemerlang mereka yang telah membolehkan Syarikat
mencapai wawasan korporat, matlamat dan objektif-
objektifnya.
Dato’ Rozali Ismail
Pengerusi Eksekutif
28 April 2000
Acknowledgements
On behalf of the Board of Directors, I wish to
express my gratitude to our valued shareholders,
our customer and our end-users for your
continued support and confidence in our
Company.
We also extend our sincere thanks to the Federal
Government, the Selangor State Government, the
Selangor Water Works Department, the relevant
government departments and statutory bodies,
the non-governmental organisations, the various
banks and other financial institutions and
business associates who have supported and
worked with us in 1999 and before.
Finally, let me convey my deep appreciation to
our Management and staff for their outstanding
efforts, commitment and dedication in enabling
the Company to achieve its corporate vision, goals
and objectives.
Dato’ Rozali Ismail
Executive Chairman
28 April 2000
Overview of the Klang Gates DamPemandangan Empangan Klang Gates dari udara
o p e r a t i o n s r e v i e wt i n j a u a n o p e r a s i
• To provide a synergy of socio-economic products and services inthe realm of water treatment, management and distributionand other related businesses.
• To cater to the increasing challenges in the demand for highquality water production and distribution through thecontinuous implementation of high quality standards, efficientservices, human resources development, innovative technologyand operational systems.
• To actively participate in regional and global businessopportunities with linkages to the Company’s core activities andrelated interests.
• To actively support and participate in programmes and activitiesaimed at uplifting the community’s living standards and valuesystems in line with the aspirations of Vision 2020.
• To address national and international concern pertaining to thep rotection, conservation and enhancement of the naturalenvironment we live in.
• Melahirkan satu sinergi sosio ekonomi dan khidmatpembersihan, pentadbiran dan pengagihan air danperkhidmatan berkaitan.
• Menangani cabaran permintaan air yang berkualiti danpengagihan yang berkesan melalui penekanan bert e ru s a nt e rhadap kualiti piawaian, perkhidmatan efisyen,pembangunan sumber manusia, teknologi berinovasi dansistem operasi.
• M e n y e rtai secara aktif dalam perniagaan rantau ini diperingkat antarabangsa yang berkaitan dengan perniagaanteras Syarikat.
• Menyokong dan mengambil bahagian secara aktif dalamp rogram dan aktiviti bertujuan meningkatkan taraf hiduprakyat dan nilai kehidupan serasi dengan aspirasi Wawasan2020 negara.
• Menyelesaikan isu-isu tempatan dan antarabangsa yangberkaitan dengan pemuliharaan, penjagaan dan peningkatankualiti alam sekitar.
Our Mission Misi Kami
REVIEW OF 1999
The year 1999 witnessed a remarkable period of
growth and profitability for your Company, Puncak
Niaga Holdings Berhad (PNHB) and its wholly-owned
subsidiary, Puncak Niaga (M) Sdn Bhd (PNSB). Several
factors converged for this to materialise. A return to
provident and abundant rainfall no doubt played a
role. As did the country’s impressive rebound from the
Asian economic crisis which began in 1997.
Yet 1999 was also a springboard for success as PNSB
overcame the challenges of the previous year, putting
the water crisis behind it. Production continued to
increase to meet the growing needs of an ever-
expanding population and a resurgent commercial
and industrial sector. Production for the year totaled
732,119,000 cubic metres, up from 582,103,000 cubic
metres produced in 1998, an increase of 26%.
These increases have largely been achieved through
PNSB’s proven record in turning the challenges which
water privatisation presents into opportunities for
growth. PNSB has been at the forefront in providing
technical know-how as well as state-of-the-art
technology to improve efficiency and exploit
economies of scale. We are ably demonstrating that
water engineering can best be accomplished through
the technical, financial and managerial resources of
the private sector.
TINJAUAN 1999
Tahun 1999 menyaksikan pertumbuhan cemerlang
dan keuntungan kepada syarikat anda, Puncak Niaga
Holdings Berhad (PNHB) dan syarikat milik penuhnya,
Puncak Niaga (M) Sdn Bhd (PNSB). Kejayaan ini
merupakan hasil gabungan beberapa faktor. Sikap
hemat dan rahmat limpahan hujan turut memainkan
peranan. Begitu juga dengan pemulihan negara
daripada krisis ekonomi Asia yang bermula pada
tahun 1997.
Tahun 1999 juga merupakan batu loncatan bagi PNSB
kerana kejayaan mengharungi cabaran tahun lalu dan
sekali gus mengatasi krisis air. Pengeluaran air terus
meningkat bagi memenuhi keperluan penduduk yang
kian bertambah dan pembangkitan pesat sektor
komersil dan industri. Jumlah pengeluaran air bagi
tahun 1999 ialah 732,119,000 meter padu,
pertambahan daripada 582,103,000 meter padu pada
tahun 1998, iaitu kenaikan sebanyak 26%.
Peningkatan ini sekali lagi membuktikan kemampuan
PNSB memanfaatkan cabaran yang timbul akibat
penswastaan air kepada peluang pertumbuhan. PNSB
juga merupakan peneraju dalam menyediakan
kemahiran teknikal serta teknologi mutakhir untuk
p e rtingkatkan kecekapan dan mengeksploitasikan
ekonomi skala. Kami mampu membuktikan bahawa
kejuruteraan air dapat dilaksanakan sebaik-baiknya
melalui gemblengan sumber teknikal, kewangan dan
pengurusan sektor swasta.
35
River
Clear WaterTank
Syarikat juga sedang meninjau untuk
memperluaskan kewujudannya di negeri-
negeri lain di Malaysia yang dalam proses
melaksanakan program penswastaan
masing-masing. Sebagaimana yang dapat
kami lihat di Selangor dan Wi l a y a h
Persekutuan, kos rawatan air mentah yang
semakin meningkat amat membebankan
kerajaan negeri untuk mengekalkan
peranannya sebagai pembekal air awam.
SSP2 Peringkat1
Loji Pembersihan Air SSP2 Peringkat 1
telah dikendalikan dengan lancar
dan pengeluaran telah beransur- a n s u r
meningkat kepada 400 juta liter sehari (JLH)
pada hujung 1999 (keupayaan penuh ialah
475 JLH) sejak pentauliahan tahun lalu,
empat bulan lebih awal daripada jadual
tarikh siap 31 Disember 1999. Peningkatan
p e rolehan Kumpulan pada tahun ini
d i d o rong t e rutamanya oleh pert a m b a h a n
pengeluaran air dan kadar bekalan pukal.
Bagi tahun-tahun mendatang, pero l e h a n
dijangka meningkat sebaik sahaja Peringkat
2 siap pada hujung tahun ini.
Kejayaan Peringkat 1 telah mendorong
kami mengemukakan permohonan untuk
mendapat sijil ISO 9002. Kami menjangkakan
sijil ini dapat diperolehi menjelang Mei
2000.
The Company is also looking to expand its presence to other
states in Malaysia as they implement their own privatisation
programmes. As we have seen in Selangor and the Federal
Te rr i t o ry, the ever-rising costs of raw water treatment and
distribution are making it increasingly difficult for state
governments to remain as public water providers.
SSP2 Stage 1
SSP2 Stage 1 WTP has been running smoothly, and production has
increased steadily to 400 million litres per day (MLD) at the end of
1999 (full capacity stands at 475 MLD) since commissioning last
year, four months in advance of the scheduled completion date of
31 December 1999. The Group’s higher turnover for the year was
due largely to increases in production volume and bulk supply
rates. Turnover in future years should rise further once Stage 2 is
completed by the end of this year.
36
1 1
Water treatment plantLoji pembersihan air
D a mE m p a n g a n
1 0
2 8
0 7
0 11 40 2
1 2 2 9 0 523 2 5
2 72 60 9
0 8
2 2 0 4
2 11 9
0 3
1 7
1 8
0 62 4
1 3
1 5
3 0
1 6
2 0Sabak Bern a m
Kuala Selangor
Hulu Selangor
G o m b a k
K l a n g
P e t a l i n g
Kuala Langat
S e p a n g
Hulu Langat
F e d e r a lTe rr i t o ry
Tasik Subang Klang Gates Sg Langat
IntakeStructure &Raw WaterPumphouse
Aeration Flow Splitter ActifloFiltration
Treated WaterPumping Station
Matang PagarReservoir
Chlorine
Lime
AluminiumSulphate
Fluoride
Chlorine
Poly-electrolyte
SludgeThickening
Tank
WashwaterHolding &
Recovery Tank
To Sludge Lagoon
To Consumers
Lime
Ammonia
Schematic diagram of the water supply and treatment process system at SSP2Rajah skimatik sistem bekalan air dan proses rawatan air di SSP2
Location of Water Treatment Plantsand DamsLokasi Loji Pembersihan Air danEmpangan
37
The success of Stage 1 has been such that we have
made submission for ISO 9002 certification. We
expect to secure the certification by May 2000.
SSP2 Stage 2
PNSB has allocated RM533.9 million for the
c o n s t ruction of SSP2 Stage 2. Construction is
proceeding ahead of schedule, with civil works
nearing completion and M & E works at an
advanced stage. Overall progress of works is 87%
complete as of December 1999. Stage 2 is
expected to be completed at the end of 2000,
well ahead of the original scheduled completion
date of 31 December 2001.
Upon commissioning, the Stage 2 works will
augment water supply to demand areas in Kuala
Lumpur, Petaling Jaya, Gombak, Shah Alam and
Klang.
Distribution Supply System
Stage 1 (DSS1)
The past year saw the completion and
commissioning of all three packages of DSS1.
Package 1: Dusun Kubung Reservoir to A3 Reservoir
became operational in March 1999. Package 2:
Matang Pagar Reservoir to Petaling Jaya and Shah
Alam opened with the completion of the final
section of pipeline from Effingham Reservoir to
Bukit Gasing in November 1999. Package 3:
C o n s t ruction of Reservoirs, Pumphouses and M & E
Works at Kepong Estate and Batu Estate Reservoirs
was completed in March 1999, while the Bukit
Gasing Pumphouse and the Sungai Buloh
Reservoir are scheduled for completion by mid-
2000.
SSP2 Peringkat 2
PNSB telah memperuntukkan RM533.9 juta untuk
pembinaan SSP2 Peringkat 2. Kerja-kerja pembinaan
berjalan lancar dan awal daripada tempoh jadual. Kerja
kejuruteraan awam hampir siap dan kerja-kerja Mekanikal
dan Elektrik kini di peringkat akhir. Setakat Disember 1999,
pembinaan sudah 87% siap. Peringkat 2 dijangka siap
pada penghujung tahun 2000, jauh lebih awal daripada
tarikh asal yang dijadualkan, iaitu 31 Disember 2001.
Setelah pentauliahan,
Peringkat 2 akan menambah
bekalan air ke kawasan yang
diperlukan di Kuala Lumpur,
Petaling Jaya, Gombak, Shah
Alam dan Klang.
Sistem Agihan Bekalan Air
Peringkat 1 (DSS1)
Tahun lalu menyaksikan
ketiga-tiga pakej DSS1 siap
dilaksanakan. Pakej 1: Kolam
Air Dusun Kubung ke Kolam Air
A3 mula beroperasi pada Mac
1999. Pakej 2: Kolam Air M a t a n g
Pagar ke Petaling Jaya dan Shah
A l a m dibuka sebaik sahaja
b a h a g i a n akhir saluran paip
daripada Kolam Air Eff i n g h a m
ke Bukit Gasing siap pada
November 1999. Pakej 3:
Pembinaan Kolam Air, R u m a h
Pam dan Kerja-kerja Mekanikal
dan Elektrik di Kolam Air Kepong
Estate dan Batu Estate siap pada Mac 1999, sementara
Rumah Pam Bukit Gasing dan Kolam Air Sungai Buloh
d i j a n g k a siap pada pertengahan tahun 2000.
N o . Water Treatment Plant C a p a c i t yB i l . Loji Pembersihan Air K a p a s i t i
0 1 Sungai Langat 3 8 6 . 4 00 2 Bukit Nanas 1 4 5 . 0 00 3 Sungai Batu 1 1 3 . 7 00 4 Batang Kali 2 0 . 3 00 5 Ampang Intake 1 8 . 0 00 6 Sungai Rangkap 9 . 0 00 7 Cheras Mile 11 2 7 . 0 00 8 Sungai Rumput 4 . 5 00 9 G o m b a k 2 2 . 5 01 0 Bukit Ta m p o i 3 1 . 5 01 1 Salak Ti n g g i 1 0 . 8 01 2 N o rth Hummock 2 2 . 5 01 3 K e p o n g 2 . 3 01 4 Sungai Serai 0 . 9 01 5 Rantau Panjang 3 1 . 5 01 6 B e rnam River Headworks 2 0 . 3 01 7 Sungai Dusun 1 . 3 01 8 Sungai Selisek 1 . 3 01 9 Sungai Te n g i 1 . 3 02 0 K a l u m p a n g 6 . 7 02 1 Kuala Kubu Bahru 6 . 7 02 2 Sungai Buaya 0 . 9 02 3 Ampang Impounding 2 . 3 02 4 Sungai Kro h 0 . 5 02 5 Sungai Pangsoon 1 . 8 22 6 Sungai Pusu 0 . 0 92 7 Sungai Lolo 0 . 4 12 8 Sungai Semenyih 5 4 5 . 0 02 9 Wangsa Maju 4 5 . 0 03 0 SSP2 Stage 1/Peringkat 1 4 7 5 . 0 0
Part of the new Water Treatment Complex at SSP2 Phase 2Sebahagian daripada Komplek Pembersihan Air baru di SSP2 Fasa 2
38
Projek DSS1 Bukit Gasing mempamerkan usaha PNSB dalam pemuliharaan alam
persekitaran dan habitat dimana kawasan projek diperindahkan dengan lanskap
dan penanaman semula tumbuh-tumbuhan, pohon dan pokok renek. Di samping
itu, Syarikat juga memainkan peranan menasihati penduduk di sekitar stesen-
stesen DSS1, untuk mendapatkan maklumbalas dan pendapat mereka mengenai
skim lanskap dan penanaman semula di kawasan masing-masing.
Sistem Agihan Bekalan Air Peringkat 2 (DSS2)
PNSB melangkah maju dan semakin terserlah kemampuannya dalam membekal air bersih bagi memenuhi
keperluan air penduduk negeri yang semakin meningkat. Sebagai bukti keyakinan terhadap kepakaran dan
keupayaan kami, Kerajaan Negeri Selangor telah menawarkan projek pembinaan rangkaian DSS2 kepada PNSB
pada 9 September 1999. Kami yakin projek ini dapat disiapkan mengikut jadual menjelang Disember 2000.
Sebagai lanjutan kepada DSS1, DSS2 akan menyalurkan
tambahan 285 JLH dari SSP2 Peringkat 2 apabila beroperasi
sepenuhnya. Antara usaha kami untuk meningkatkan
keupayaan bekalan ke Kuala Lumpur, seksyen pertama DSS2
yang merangkumi satu saluran paip utama telah disiapkan
pada Mac 1999.
Penyenggaraan 27 Loji Pembersihan Air
PNSB memperuntukkan sebanyak RM150 juta pada 1994
untuk membaik pulih loji-loji pembersihan air di mana 95%
telah dibelanjakan setakat Disember 1999. Perbelanjaan
ini m e rupakan perjanjian berkontrak PNSB untuk
menyenggara 27 buah loji pembersihan air di bawah
Perjanjian Penswastaan dan Konsesi (PCCA). Perbelanjaan
ini meliputi pembaikan peralatan dan proses di antaranya
t e rmasuk pam, alat pengudaraan, tangki pengenapan,
pemberbukuan, sistem penapis olak buri dan penganalisa
dalam talian. Peningkatan bekalan tenaga juga termasuk
dalam perbelanjaan ini di mana RM12.7 juta telah
digunakan untuk pencawang baru TNB di Loji Pembersihan
Air Sg Langat bagi meningkatkan bekalan elektrik daripada
11KV kepada 33KV.
Pada tahun ini PNSB juga telah memasang sebuah sistem
‘scrubber’ automatik yang baru di loji klorin Langat yang
boleh mengesan dan mengawal sebarang kebocoran klorin,
serta membaikinya dengan segera.
The DSS1 Bukit Gasing project also showcases
P N S B ’s eff o rts in e n v i ronmental and habitat
p re s e rv a t i o n , with extensive replanting of trees,
bush, vegetation and landscaping. Significantly,
the Company is also advising residents in the
vicinity of the DSS1 stations, getting their
feedback and input on replanting and
landscaping schemes for their locales.
Distribution Supply System
Stage 2 (DSS2)
PNSB continues to make impressive strides in the
supply of treated water to meet the State’s
growing water needs. In a show of confidence at
our expertise and capability, the Selangor State
Government awarded the construction of the
DSS2 network to PNSB on 9 September 1999. We
are confident the project will be completed on
schedule by December 2000.
An extension of DSS1, DSS2 will convey the
additional 285 MLD from SSP2 Stage 2 when it
becomes fully operational. As part of our efforts
to enhance supply capability to Kuala Lumpur,
the first section of the DSS2, consisting of a
priority line, was completed in March 1999.
Cutting pipe process at the Effingham Reservoir interconnectionProses memotong paip di Kolam Air perantaraan Effingham
A 30° horizontal bend in a pipe trench under DSS2Lengkok melintang 30° dalam saluran parit bawah DSS2
Refurbishment of 27 WTPs
PNSB allocated RM150 million in 1994 on refurbishment of WTPs, of
which 95%, was spent as of December 1999. This outlay represented a
contractual agreement by PNSB that we will maintain and keep in good
order all 27 WTPs which fall under the Privatisation Cum Concession
Agreement (PCCA). Expenditure covered both equipment and process
improvements including pumps, aerators, settling tanks, flocculators,
new filter backwash systems and on-line analysers, among other items. It
also included upgrades in
the power supply, with
RM12.7 million alone
spent for the new TNB
substation at Sg. Langat
WTP to upgrade the
power supply from 11KV
to 33KV.
This year, PNSB also installed a new automatic scrubber system at
the Langat chlorine plant which allows any chlorine leak to be
detected and quickly contained and rectified.
Dam Operations
PNSB is currently operating three dams, namely Sungai Langat,
Klang Gates and Tasik Subang. Presently, PNSB is in the midst of
negotiating the Agreement with the State Government for the
management on a permanent basis of these three dams as well as
for Sungai Semenyih and Sungai Tinggi dams.
Overall catchment rainfall in 1999 improved markedly compared
with the preceding year. All the three dams currently in operation
at Sungai Langat, Klang Gates and Tasik Subang re c o rd e d
significant increases of 21%, 43% and 30%, respectively.
The Malaysian Meteorological Services’ long-range forecast for
2000 indicates rainfall levels to remain at or above average levels.
As such, we foresee no serious storage drawdowns at any of the
three dams, which will obviously further improve performance
levels.
Operasi Empangan
PNSB kini mengendalikan tiga buah
empangan khususnya Sungai Langat,
Klang Gates dan Tasik Subang. Ketika ini,
PNSB sedang berunding dengan Kerajaan
Negeri mengenai Perjanjian untuk
m e n g u ruskan ketiga-tiga empangan ini
secara tetap termasuk empangan Sungai
Semenyih dan Sungai Tinggi.
Purata hujan yang turun di kawasan
tadahan pada tahun 1999 meningkat
ketara berbanding tahun sebelumnya.
Ketiga-tiga empangan yang kini
beroperasi di Sungai Langat, Klang Gates
dan Tasik Subang masing-masing
mencatat kenaikan ketara sebanyak 21%,
43% dan 30%.
Ramalan jangka panjang Perkhidmatan
Kaji Cuaca Malaysia bagi tahun 2000
menunjukkan bahawa kadar hujan
dijangka kekal atau melebihi paras
purata. Oleh demikian, kami tidak
menjangkakan berlaku sebarang masalah
bekalan air yang serius di tiga empangan
ini yang sudah tentu akan meningkatkan
lagi tahap prestasi.
An excavator lowering a pipe into a trench in Bukit GasingJengkaut menurunkan batang paip ke dalam parit di Bukit Gasing
39
40
J AWATANKUASA PENGURUSAN KRISIS
Pada tahun dalam kajian, Syarikat telah menubuhkan satu
Jawatankuasa Pengurusan Krisis tetap bagi menangani situasi
kecemasan di samping menyelaraskan pelan dan strategi
sekiranya berlaku krisis seperti bencana alam, sabotaj atau
sebarang kejadian luar jangkaan. Jawatankuasa in terd i r i
daripada semua ketua jabatan dan diketuai oleh Naib
Pengerusi Eksekutif Syarikat.
Salah satu daripada tindakan awal Jawatankuasa ialah untuk
mewujudkan Pelan Prosedur Pengurusan Krisis bagi Ibu Pejabat
dan Loji-loji Pembersihan Air. Baru - b a ru ini kami telah
meluaskan lagi usaha ini melalui perumusan Pelan Tindak Balas
Kecemasan. Program baru ini menyokong usaha Syarikat dalam
persiapan keselamatan dan kecemasan melalui simulasi krisis,
latihan omokan yang melibatkan penyertaan aktif pihak
hospital, polis dan bomba.
Jawatankuasa Pengurusan Krisis juga bert a n g g u n g j a w a b
menyelia persediaan Syarikat dalam menangani isu
pematuhan dan perancangan kontingensi Y2K (sila lihat
bahagian Teknologi Baru).
PERHUBUNGAN KAKITA N G A N
Pada 1999, PNSB memberi pengiktirafan kepada penubuhan
Kesatuan Sekerja Kakitangan PNSB. Langkah ini membuka
jalan bagi rundingan pertama antara Kesatuan dan
P e n g u rusan PNSB. Inilah pengiktirafan pertama bagi
penubuhan kesatuan dalaman bagi industri ini. Semasa
laporan ini disediakan, rundingan masih berterusan dan kami
yakin satu penyelesaian saksama untuk semua pihak terlibat
dapat dipersetujui pada tahun ini.
Syarikat sentiasa berusaha untuk merangsang semangat kerja
kakitangan melalui amalan sikap kerja berinisiatif dan
berpasukan. Faktor-faktor ini jugalah yang mendoro n g
meningkatkan prestasi Syarikat. Salah satu pendekatan yang
kami amalkan untuk merangsang inisiatif dan motivasi
kakitangan ialah melalui Sistem Penilaian Prestasi yang
menghubungkaitkan kenaikan gaji individu kepada
peningkatan produktiviti. Sistem ini menilai pro d u k t i v i t i
pekerja melalui indeks produktiviti yang dapat menentukan
tanda aras untuk dijadikan asas ukuran.
CRISIS MANAGEMENT COMMITTEE
During the year under review, the Company
c reated a permanent Crisis Management
Committee to deal with emergencies and to
coordinate plans and strategy in the event of
a crisis, such as a natural disaster, sabotage or
other unforeseen cataclysmic events. The
Committee is composed of all department
heads and is presided over by the Company’s
Executive Vice Chairman.
One of the Committee’s first acts was to
establish a Crisis Management Procedure Plan
for both Headquarters and WTPs. We have
recently expanded these efforts through the
formulation of an Emergency Response Plan;
the new programme augments the Company’s
efforts in safety and emergency preparedness
t h rough crisis simulations, mock-ups and
drills, and involves the active participation of
local hospitals, police and fire stations.
The Crisis Management Committee also
oversaw the Company’s preparations for Y2K
compliance and contingency planning (see
New Technologies).
Y2K testing at SSP2 Phase 1Ujian Y2K di SSP2 Fasa 1
Selain itu, inisiatif lain juga turut membantu Syarikat mencapai satu lagi objektif–
“rightsizing” (keseimbangan)– iaitu menyelaraskan nisbah kakitangan untuk
mengoptimumkan sumber manusia supaya tidak terlalu ramai pada tahap
jawatan tinggi atau rendah; mengelakkan pembaziran dan pada masa yang sama
tidak terlalu kekurangan sehingga menjejaskan operasi Syarikat. Memang tidak
dapat dinafikan bahawa inilah yang akan menjadi faktor persaingan penting
dalam era kepesatan globalisasi abad ke 21.
SUMBER MANUSIA
PNSB akan meneruskan amalan budaya
korporat berorientasikan matlamat dan
sikap proaktif yang memberi ganjaran
b e rdasarkan merit dan dedikasi. Pihak
p e n g u rusan sentiasa berpegang kepada
prinsip bahawa kakitangan perlu merasakan
diri mereka sebagai anggota penting
o rganisasi kami. Kakitangan perlu diberi
motivasi secara berterusan supaya mereka
sentiasa cerdas dan lincah bekerja. Bagi
mencapai tujuan ini, mereka perlu
m e m p e rtingkatkan pengetahuan dan
kemahiran agar emosi dan mental mereka
sentiasa terangsang dan sihat. Atas hakikat
inilah Syarikat telah melabur RM1.4 juta
untuk pembangunan sumber manusia pada
1999 yang sebahagian besarnya digunakan
untuk pelbagai program latihan, termasuk
latihan semasa bekerja, seminar, kursus,
latihan motivasi dan keagamaan, aktiviti
sosial dan kesukanan.
EMPLOYEE RELAT I O N S
In 1999, PNSB conferred recognition to the PNSB Trade Union of
Employees. This set the stage for the first collective bargaining
talks between the Union and PNSB Management. It also marked
the first such recognition of an in-house union in this industry.
Negotiations are proceeding as we go to print and we are
confident an agreement mutually satisfactory to all will be
reached sometime this year.
The Company has long sought to nurture initiative, teamwork,
and high morale among its employees. Indeed, these are the key
not only to enlightened management policies, but to improving
p e rf o rmance and pro f i t a b i l i t y. We have always strived to
encourage worker initiative and motivation. One way is thro u g h
what we call the Perf o rmance Appraisal System, which links
individual salary increments to increased pro d u c t i v i t y. It
evaluates worker productivity through a productivity index, fro m
which benchmarks can be determined and measured against.
These and other initiatives are helping the Company to achieve
another continuing objective– “rightsizing”– adjusting staff
ratios to try to optimise human resources by not being too top-
heavy or bottom-heavy; by eliminating wastage, redundancy,
while at the same time not spreading ourselves too thin. This
will undoubtedly be a significant competitive factor as we enter
the 21st Century and the era of accelerated globalisation.
Opening ceremony of Puncak Niaga’s 1999 Family DayUpacara pembukaan Hari Keluarga Puncak Niaga 1999
Team building training programme in sessionSessi latihan bagi membina semangat kakitangan kami
41
42
Kumpulan Kawalan Mutu Kerja (QCC)
Konsep QCC walaupun mudah, ia amat berkesan untuk memupuk sikap berinisiatif dan
semangat bekerjasama sesama rakan sekerja untuk mencapai matlamat Syarikat yang
sama. Sejak dilancarkan pada November 1998, Kumpulan QCC kini telah meningkat
kepada 23 kumpulan– satu lagi bukti “usaha kecemerlangan” kami. QCC terdiri daripada
pasukan kakitangan dalam dan antara
jabatan. Kesemua QCC ini berasaskan
tahap kakitangan dan bukan
pengurusan– satu kaedah yang lebih
berkesan untuk menjana idea-idea
dan cadangan baru bagi tujuan
menjimatkan kos, menyelaraskan
proses juga merangsang semangat
pekerja dan kerja berpasukan.
Syarikat bekerjasama dengan Pusat
Produktiviti Negara yang menawarkan
pakar runding untuk membantu latih
dan membimbing kakitangan kami
mengendalikan latihan dan
memperkenalkan metodologi. Pada
tahun lalu, projek QCC telah
merumuskan kaedah mengurangkan
kos kimia di loji seperti klorin,
mengurangkan pembaziran kertas dan
m e m p e r b a i k i sistem edaran mel.
HUMAN RESOURCES
PNSB continues to nurt u re a proactive, goal-
oriented corporate culture that re w a rds merit
and dedication. Management has always
worked on the principle that employees need
to feel that they are a vital part of our
o rganisation. In order to keep employees
motivated and nimble, they must also be able to increase their
knowledge and develop their skills, to grow both mentally and
e m o t i o n a l l y. For these reasons, the Company invested RM1.4 million on
human re s o u rces in 1999, which went to a myriad of training
p rogrammes, both on-the-job as well as seminars and courses,
motivational and religious training, social and sports activities.
Quality Control Circle (QCC)
The QCC concept is a remarkably simple yet effective way to foster
worker initiative, collaboration and partnership with fellow workers
and with the goals of the Company itself. Inaugurated in November
1998, the Company’s Quality Control Circles (QCCs) currently number
23– another testament to our “search for excellence.” Consisting of
both inter and intra departmental teams of workers, the QCCs are
employee-level based, not management-based– an even more effective
way to generate new ideas and recommendations for cost-cutting,
process-streamlining, as well as boosting worker morale and team
building.
The Company works with the National Productivity Centre, whose
consultants help coach and train staff to conduct training and institute
methodologies. This past year QCC projects have formulated ways to
reduce plant chemical costs such as chlorine, reduce paper usage and
improve mail distribution systems.
Tr a i n i n g
Training is an ongoing and critical component of any successful
organisation. Objectives are several, complementary, long-range and
potentially far- reaching in scope. Perhaps the most import a n t
component is its ability to improve productivity and enhance working
relationships among staff. Specific training tools of the Company
include: Training Needs Analysis (TNA) and Training Needs
Identification (TNI); criteria which were employed to pinpoint any skill
gaps and to focus on improving core competencies.
Close supervision ensures efficient processingPenyeliaan rapi memastikan pemprosesan cekap
Our people
Puncak Niaga’s bowling tournamentPertandingan boling Puncak Niaga
43
L a t i h a n
Latihan merupakan komponen
terpenting dan bert e rusan dalam
mana-mana organisasi berjaya.
Latihan mempunyai pelbagai
objektif, antaranya sebagai
pelengkap, matlamat jangka panjang
dan berpandangan jauh. Komponen
yang dikira paling penting
ialah kemampuannya meningkatkan
produktiviti dan menjalin hubungan
kerja antara kakitangan. Alat latihan
khusus termasuk Keperluan Analisis
Latihan (TNA) dan Identifikasi
Keperluan Latihan (TNI), iaitu kriteria
yang digunakan untuk mengenal
pasti sebarang jurang kemahiran
dan memberi tumpuan kepada
peningkatan teras kecekapan.
Syarikat menyediakan pelbagai latihan
inovatif, antaranya termasuk program
latihan silang disiplin yang melatih
kakitangan kemahiran di luar bidang
kepakaran utama mereka tetapi dapat
membantu mereka supaya lebih
memahami dan melaksanakan tugas
b e rdasarkan gambaran yang lebih
luas. Misalnya, kakitangan operasi
atau teknikal boleh mempelajari
aspek-aspek bukan teknikal tertentu
dalam organisasi seperti kewangan
atau sebaliknya.
The Company provides a host of other innovative training regimens;
they include a broad range of inter-disciplinary training programmes,
w h e reby staff are taught skills outside their immediate field of
expertise, yet which can help them better understand and perform
their jobs with a firmer grasp and appreciation of the “big picture.” For
example, operations or other technical staff may learn some non-
technical aspects of the organisation, such as finance or vice versa.
The Company’s serious commitment to training was also evident in the
successful and seamless Y2K transition as well as in its management and
staff preparation for ISO 9002 certification.
S p o rts Club
S p o rts is another arena that re w a rds initiative, leadership and
teamwork. Thus PNSB is proud to provide recreational and social
activities for the staff and their families through the PNSB Sports and
Recreational Club.
The Company maintains its own football club and is a member of the
Football Association of Selangor. Nineteen ninety-nine saw our team,
Pasukan Bolasepak Puncak Niaga, move from the third to the second
division of the Selangor Football League.
Religious Activities
The Company also organises religious activities for staff and their
families such as the Mass Circumcision Ceremony for the staff’s children,
Majlis Ibadah Qurban during Hari Raya Haji, Majlis Berbuka Puasa dan
Solat Terawih, which were held at WTPs throughout Selangor.
Our staff’s participation in the Company’s Maal Hijrah processionPenyertaan kakitangan kami dalam perarakan Maal Hijrah Syarikat
Puncak Niaga’s football team in actionPasukan Bolasepak Puncak Niaga dalam aksi
44
Kesungguhan komitmen Syarikat terhadap latihan
juga jelas terbukti dalam kejayaannya
menghadapi peralihan Y2K juga dalam
p e n g u rusan dan persediaan kakitangan untuk
mendapatkan sijil ISO 9002.
Kelab Sukan
Sukan merupakan satu lagi arena yang menawarkan ganjaran bagi sikap inisiatif,
kepimpinan dan kerja berpasukan. Justeru itu, PNSB berbangga dapat menyediakan
aktiviti rekreasi dan sosial untu kakitangan dan keluarga mereka melalui Kelab
Sukan dan Rekreasi PNSB.
S y a r i k a t
m e n y e n g g a r a
kelab bola
sepaknya sendiri dan merupakan ahli
kepada Persatuan Bola Sepak Selangor.
Tahun 1999 menyaksikan kejayaan
Pasukan Bola Sepak Puncak Niaga
b e rganjak daripada Bahagian Ketiga
kepada Bahagian Kedua Liga Bola Sepak
Selangor.
Aktiviti Keagamaan
Syarikat juga menganjurkan aktiviti
keagamaan untuk kakitangan sert a
keluarga mereka seperti Majlis Berkhatan
Beramai-ramai untuk anak-anak
kakitangan, Majlis Ibadah Qurban semasa
Hari Raya Haji, Majlis Berbuka Puasa dan
Solat Terawih yang diadakan di Loji-Loji
Pembersihan Air yang bertempat di
Selangor.
HUBUNGAN KEMASYARAKATAN
Sebagaimana yang terbukti semasa
krisis air pada 1998, semangat
suka rela dan gotong-royong di kalangan
kakitangan kami adalah kukuh. Begitu
juga di peringkat korporat, kami
berpendapat bahawa syarikat-syarikat
mempunyai tanggungjawab untuk
menyokong masyarakat, meringankan
beban golongan yang kurang bernasib
baik dan menyumbang terh a d a p
kesejahteraan rakyat jelata.
COMMUNITY RELATIONS
As the water crisis of 1998 demonstrated, the spirit of
volunteerism and “gotong-royong” among our staff is strong. On
the corporate level too, we believe that companies have an
obligation to support the community, to ease the burden of the
needy and less fortunate, and to contribute to the well-being of
all. This commitment takes many forms. The Company donated
RM349,173 in charitable contributions in 1999. We have invested
both money and love in our work with orphanages and schools,
including Anak Yatim Alkhairiah, Anak Yatim Teras Jernang,
Sekolah Sg Choh and Sekolah Padang Jawa.
Our River Rescue Brigade has also been extremely successful and
popular among primary school children. To date, we have
recruited 600 students from 28 schools located in Selangor and the
Federal Territory of Kuala Lumpur as members of the River Rescue
Brigade. Its aim is to educate children on the importance of caring
for their rivers, streams and lakes, and to inculcate good
environmental habits and perspectives which they will retain all of
their lives, and hopefully will pass along to future generations.
Educating the public is perhaps the most valuable community
relations asset we can bestow. Our Company conducts numerous
talks, seminars, expos and WTP Open Days throughout the year.
This includes everything from visiting local primary and secondary
schools, to hosting technical, scientific and industry seminars for
professionals and lay persons alike.
We wholeheartedly embrace the IT and communications age as
well, with the production of documentaries on water resource
management to be aired on television stations, including RTM and
TV3. We meet with the media regularly to keep the public aware
of the Company, what it’s doing, its goals and its vision. And we
invite everyone to visit our website at www.puncakniaga.com.my.
Presentation of gift by spouse of Executive Chairmanto children at Sekendi Sabak Bernam Orphanage
Penyampaian hadiah oleh isteri Pengerusi Eksekutif kepada Kanak-kanak Rumah Anak Yatim Sekendi
Sabak Bernam
River Rescue Brigade Campaign Programme V officiated byYB Dato’ Yap Pian HonKempen Briged Penyelamat Sungai Program V dirasmikanoleh YB Dato’ Yap Pian Hon
E N V I R O N M E N TAL INITIATIVES
S t ructural Appro a c h e s
The Company works closely with state and federal authorities such as the
D e p a rtment of Environment and the Ministry of Health to identify potential sourc e s
of pollutants. The Company also classifies and keeps an inventory of suspected
pollutants/polluters, and advises and assists federal and state authorities as and
when re q u e s t e d .
Regular analysis is also performed in cooperation with an independent lab to
monitor and test water from intakes from all WTPs, which is then submitted to
the relevant authorities, with comments and recommendations. There were 809
cases of raw water pollution recorded in 1999, reflecting a dramatic increase of
22.2%. In addition, several unscheduled shutdowns of WTPs occurred due to
incidences of raw water violations, which
accounted for nearly half (45.3%) of
the total unscheduled shutdowns. As
shutdowns adversely affect re v e n u e ,
PNSB is continuously seeking ways to
minimise them, particularly those which
are caused by raw water violations and
power outtages.
The River Warning Monitoring System
(RWMS) is an automated on-line system
which tests certain water parameters
such as pH and contaminant levels. The
system takes samples every hour, 24
hours a day, and provides a built-in
advance warning to address pro b l e m
situations or even shut down the system
if necessary until the problem is
identified and remedied. The first
automated RWMS is already operating in
Sungai Langat. The second system is
being installed at SSP2 and is expected to
be commissioned by December 2000.
We have expanded these tests to
include regular spot-checks, or “Sanitary
S u rveys” of the river system itself in
Selangor and the Federal Te rr i t o ry,
to monitor a wider area. The surveys
comprise water quality analysis and
research and an on-line water quality
monitoring programme.
Komitmen ini boleh dizahirkan dalam beberapa cara. Syarikat
telah menghulur sumbangan sebanyak RM349,173 kepada badan-
badan kebajikan pada 1999. Kami juga melabur wang dan
mencurah kasih sayang dalam kerja-kerja amal kami dengan
sekolah dan rumah anak yatim, termasuk Rumah Anak Yatim
Alkhairiah, Rumah Anak Yatim Teras Jernang, Sekolah Sg Choh dan
Sekolah Padang Jawa.
Briged Penyelamat Sungai kami juga telah berkhidmat dengan
cemerlang dan begitu popular di kalangan murid-murid sekolah
rendah. Setakat ini kami telah melatih 600 orang pelajar dari 28
buah sekolah di Selangor dan Wilayah Persekutuan Kuala Lumpur
sebagai ahli Briged ini. Tujuannya adalah untuk mendidik kanak-
kanak mengenai pentingnya memelihara sungai, anak sungai dan
tasik di samping menyemai tabiat dan perspektif positif terhadap
alam sekitar. Amalan baik ini akan mereka warisi sepanjang hayat
dan kemungkinan dapat diajar dan diteruskan oleh generasi akan
datang.
Mendidik orang ramai merupakan aset hubungan masyarakat
paling bernilai kepada kami. Syarikat menganjurkan pelbagai
ceramah, seminar, pameran dan Hari Terbuka Loji Pembersihan Air
sepanjang tahun. Aktiviti ini termasuk lawatan ke sekolah rendah
dan menengah, menganjur seminar industri, teknikal dan saintifik
kepada golongan profesional dan orang awam.
Secara menyeluruh dan bersungguh kami juga memanfaatkan
kaedah Teknologi Maklumat dan telekomunikasi dengan
penerbitan filem dokumentari mengenai pengurusan sumber air
untuk disiarkan di stesen televisyen, termasuk RTM dan TV3. Kami
sering berbincang dengan pihak media untuk memberi kesedaran
kepada orang ramai tentang peranan Syarikat, matlamat dan
wawasannya. Selain itu, kami juga mempelawa anda semua untuk
melawat tapak web kami di www.puncakniaga.com.my.
Visit by Hospital Universiti Kebangsaan Malaysia to Wangsa Maju WTPLawatan rombongan Hospital Universiti KebangsaanMalaysia ke Loji Pembersihan Air Wangsa Maju
45
Hubungan
kemasyarakatan
48
I N I S I ATIF ALAM PERSEKITA R A N
Pendekatan Stru k t u r
Syarikat bekerjasama dengan badan-badan berkuasa Persekutuan dan negeri
yang relevan seperti Jabatan Sekitar Alam dan Kementerian Kesihatan untuk
mengenal pasti sumber-sumber bahan
cemar berpotensi. Syarikat juga
membuat klasifikasi dan inventori
bahan cemar/pencemar yang disyaki
dan menasihati serta membantu
badan-badan berkuasa bila diperlukan.
Analisis juga kerap dilakukan dengan
kerjasama makmal bebas untuk
memantau dan menguji contoh air
dari semua Loji Pembersihan Air dan
hasil kajian dihantar ke pihak-pihak
berkuasa berkenaan lengkap dengan
komen dan cadangan. Pada 1999
t e rdapat 809 kes pencemaran air
mentah dan angka ini mencerminkan
kenaikan ketara sebanyak 22.2%.
Selain itu, beberapa loji pembersihan air terpaksa ditutup tidak
mengikut jadual akibat kejadian pencemaran air mentah.
Kejadian-kejadian seperti ini adalah hampir separuh (45.3%)
daripada jumlah kes penutupan tidak berjadual. Memandangkan
penutupan loji pembersihan air menjejas pendapatan dengan
teruk, PNSB sentiasa mencari jalan untuk mengurangkan masalah
i n i , terutamanya yang berpunca daripada pencemaran air mentah
dan gangguan bekalan elektrik.
Sistem Pengawasan Amaran Sungai (RWMS) ialah sistem automasi
dalam talian yang menguji parameter tertentu air sepert i
kandungan pH dan tahap pencemaran. Sistem ini mengambil
contoh air setiap jam bagi 24 jam sehari dan mempunyai ciri
amaran sedia pasang bagi menyediakan amaran awal untuk
menangani situasi bermasalah atau jika perlu menutup sistem
sehingga punca masalah dikenal pasti dan dipulihkan. RWMS
berautomasi yang pertama telah dipasang di Sungai Langat.
Sistem kedua sedang dipasang di SSP2 dan dijangka beroperasi
Disember 2000.
Bagi tujuan memantau kawasan yang lebih luas, kami juga telah
meluaskan ujian ini untuk membuat pemeriksaan mengejut
secara kerap atau “kajian kebersihan” ke atas sistem sungai di
Selangor dan Wilayah Persekutuan. Kajian ini merangkumi
penyelidikan dan analisa kualiti air dan juga pro g r a m
pemantauan kualiti air dalam talian.
The Company has even enlisted the
assistance of the public, with a 24-hour toll-
f ree hotline (Telephone No. 1 800 88 3254)
to re p o rt on suspected river pollution
practices or violations. To increase public
awareness even further, PNSB participates
in numerous enviro n m e n t a l - re l a t e d
exhibitions on sources of river pollution and
on how vigilance among the public in this
regard can be heightened.
N o n - s t ructural Appro a c h e s
As touched on above, education remains
a cornerstone of our blueprint for a
responsible environmental policy. The
Company has therefore launched a new
five-year programme based on education at
all levels, but with an emphasis on primary
education. Our senior management staff
visit local schools to provide information on
PNSB’s operations, with special focus on
water conservation issues and other
environmentally healthy practices.
Students being briefed on the water treatment process at Bukit Nanas WTPTaklimat mengenai proses rawatan air kepada pelajar-pelajar di Loji Pembersihan Air BukitNanas
Syarikat telah berusaha untuk mendapatkan bantuan orang awam
dengan menyediakan talian bebas tol 24 jam (No. Telefon 1 800 88
3 2 5 4 ) untuk memudahkan laporan mengenai amalan pencemaran
sungai yang disyaki. Bagi meningkatkan lagi kesedaran masyarakat,
PNSB turut menyertai pelbagai pameran berkaitan alam sekitar
mengenai punca-punca pencemaran sungai dan bagaimana
keprihatinan masyarakat terhadap masalah ini dapat dipertingkatkan.
Pendekatan Bukan Stru k t u r
Susulan daripada pendekatan di atas, apa yang nyata ialah pendidikan
tetap merupakan asas penting bagi merangka satu dasar alam
persekitaran yang bertanggungjawab. Justeru
itu, Syarikat telah melancarkan satu program
b a ru untuk jangka masa lima tahun
berdasarkan pendidikan bagi semua peringkat
dengan penekanan kepada pendidikan
rendah. Pegawai-pegawai pengurusan kanan
kami sentiasa membuat lawatan ke sekolah-
sekolah tempatan untuk memberi maklumat
mengenai operasi PNSB dengan tumpuan
khusus kepada isu-isu pemuliharaan air
dan amalan-amalan sihat berkaitan alam
persekitaran.
P rogram lawatan suai kenal ke Loji
Pembersihan Air oleh rombongan sekolah,
kolej, universiti dan org a n i s a s i - o rg a n i s a s i
berkaitan bukan sahaja diteruskan malah akan
diperluaskan. Sepanjang 1999, PNSB telah
mengendalikan pelbagai lawatan khas ke Loji-
loji Pembersihan Air oleh rombongan dari
dalam dan luar negara. Antaranya ialah
lawatan oleh Waterworks Department of Hong
Kong, kumpulan guru dan pelajar dari Sekolah
Jepun, Kuala Lumpur, Japanese International
Corporation Agency, organisasi penyelidikan
dari Mongolia (“WHO FELLOWS”) dan
Persatuan Kanak-kanak Istimewa Malaysia.
Company familiarisation tours to our
WTPs by school children, students from
local and overseas colleges, universities
and related organisations will not only
be continued, but shall be expanded.
T h roughout 1999, Puncak Niaga
conducted special tours to our WTPs by
a broad spectrum of groups, both local
and foreign. These included visits by
the Waterworks Department of Hong
Kong, teachers and students from the
Japanese School of Kuala Lumpur, the
Japanese International Corporation
A g e n c y, a fact-finding org a n i s a t i o n
f rom Mongolia (“WHO FELLOWS”),
and the National Association of Gifted
Children, to name just a few.
Our media campaign will be expanded
with emphasis in the electronic media
and multimedia to keep re l e v a n t
water issues in the public forum. We
shall also continue to produce and
distribute pamphlets and other
i n f o rmative material on water
conservation to the public and to other
interested parties.
And we will be working with
governmental bodies to develop and
implement more enviro n m e n t a l
a w a reness and water conserv a t i o n
practices.
River Rescue Brigade logoLogo Briged Penyelamat Sungai
Didi, our River Rescue Brigade mascotDidi, maskot Briged Penyelamat Sungai kami
49
Bersih Amalan Kami
50
NEW TECHNOLOGIES
In order to continue to impro v e
efficiency and performance utilising the
latest in cutting-edge technologies, your
Company invested in major new
information technology systems in the
operations, finance, and billing sectors,
while at the same time implementing
strategies to meet the Y2K challenge.
Total IT capital expenditure in 1999
amounted to RM702,076.
The Company is also replacing its current
accounting/financial system with
powerful SAP R/3 technology, which is
widely considered the most advanced
software system of its kind today. R/3
should be fully implemented by the end
of 2000.
Other IT expenditure included system
enhancements, such as company-wide
intranet expansion of its Integrated
Office Automation System (PINTAS) and
the inclusion of individual department
production data, archival material, QCC
material and the annual report.
Kempen media kami akan diperluaskan dengan penekanan kepada
media elektronik dan multimedia bagi menonjolkan isu-isu air yang
relevan di forum-forum awam. Syarikat juga akan meneruskan
usaha menerbit dan mengagih-agihkan risalah dan bahan
maklumat lain mengenai pemuliharaan air kepada orang awam
dan pihak-pihak lain yang berminat. Kami juga akan bekerjasama
dengan badan-badan kerajaan untuk menggiatkan lagi amalan
tentang kesedaran alam sekitar dan pemuliharaan air.
TEKNOLOGI BARU
Bagi meneruskan usaha menggunakan teknologi baru dan terkini
untuk meningkatkan kecekapan dan prestasi, Syarikat anda telah
melabur dalam sistem teknologi maklumat utama yang baru dalam
sektor-sektor operasi kewangan dan pengebilan dan pada masa
yang sama telah melaksanakan strategi-strategi untuk mengatasi
masalah Y2K. Perbelanjaan modal Teknologi Maklumat pada tahun
1999 berjumlah RM702,076.
Syarikat juga akan menggantikan sistem pera k a u n a n / k e w a n g a n
lama dengan teknologi SAP R/3 yang diakui ramai pengguna
sebagai sistem perisian paling maju pada masa ini. R/3 akan
dilaksanakan sepenuhnya menjelang akhir tahun 2000.
Perbelanjaan Teknologi Maklumat lain termasuk sistem
peningkatan seperti perluasan rangkaian Intranet dalam Sistem
Automasi Pejabat Bersepadu (PINTAS) dan kemasukan data
pengeluaran setiap jabatan, bahan khazanah, bahan QCC dan
laporan tahunan.
The Actiflo system at SSP2 Phase 1Sistem Actiflo di SSP2 Fasa 1
51
S T R ATEGIC RESOURCE CENTRE (SRC)
SRC is a vital tool in the gathering and
dissemination of timely and relevant corporate,
scientific, technical and industrial information. As
a re s o u rce centre, it is also responsible for
undertaking research activities and to prepare
p resentation materials for PNHB’s top-level
management in participating conferences, as well
as management talks organised locally and
internationally.
In 1999, PNHB participated in a number of
conferences during which our top management,
which included the Executive Chairman and
Executive Vice Chairman, presented and
disseminated several influential papers on the
subject of water treatment and supply (the titles
of these papers appear in italics below):
Jan Water Asia 1999 Intern a t i o n a l
Conference & Exhibition on Asia Water
Industry
O rganised by Prajati [Maidan], New
Dehli, India
“Private Sector Participation in Wa t e r
U t i l i t i e s ”
Mar National Water Confere n c e
O rg a n i s e d by Asian Strategic Leadership
Institute [ASLI], Kuala Lumpur, Malaysia
“ G rowth Opport u n i t i e s in the Malaysian
Water Industry”
Apr The Future of Water Supply &
Management in the APEC Region
O rganised by Academy of Science
Malaysia
“Water for Domestic and Industrial Use”
Sep 22nd World Water Congre s s
O rganised by International Water Supply
Association, Buenos Aires, Arg e n t i n a
“Benefits of the Expanding Privatisation of
the Malaysian Water Supply System”
P U S AT SUMBER STRATEGIK (SRC)
SRC adalah alat penting bagi
pengumpulan dan pengagihan
maklumat korporat, saintifik,
teknikal dan industri yang tepat
dan cepat. Sebagai pusat sumber,
SRC juga bert a n g g u n g j a w a b
mengendalikan aktiviti
penyelidikan dan menyiapkan
bahan maklumat bagi kegunaan
pihak pengurusan kanan PNHB ke
persidangan atau ceramah yang
dianjurkan di dalam dan luar
negara.
Pada 1999, PNHB turut serta dalam beberapa persidangan
di mana pihak pengurusan kanan, termasuk Pengerusi
Eksekutif dan Naib Pengerusi Eksekutif, membentang dan
menyebar kertas kerja mengenai tajuk rawatan dan
bekalan air (tajuk kertas kerja disenaraikan di bawah
dalam italik):
Jan Water Asia 1999 International Conference &
Exhibition on Asia Water Industry
Anjuran Prajati [Maidan], New Dehli, India
“Private Sector Participation in Water Utilities”
Mac National Water Confere n c e
Anjuran Asian Strategic Leadership Institute
[ASLI], Kuala Lumpur, Malaysia
“ G rowth Opport u n i t i e s in the Malaysian Water
Industry”
Apr The Future of Water Supply & Management in the
APEC Region
Anjuran Akademi Science Malaysia
“Water for Domestic and Industrial Use”
Sep 22nd World Water Congre s s
Anjuran I n t e rnational Water Supply Association,
Buenos Aires, Arg e n t i n a
“Benefits of the Expanding Privatisation of the
Malaysian Water Supply System”
New raw water pumps at SSP2 Phase 2Pam air mentah baru di SSP2 Fasa 2
52
PEMATUHAN TAHUN 2000
Dengan bangganya kami memaklumkan bahawa Syarikat
anda telah berjaya melangkah ke alaf baru tanpa mengalami
sebarang masalah berkaitan Y2K atau gangguan kepada
perkhidmatan. Walau sebelum ini kami begitu yakin dengan
kemampuan peralatan, teknologi dan kakitangan kami,
Syarikat tetap membuat persiapan dan melaksanakan pelan
kontingensi tiga fasa yang meliputi:
1. Tempoh sebelum Y2K (ujian dan ujian semula peralatan,
latihan kepada kakitangan, peringkat percubaan dan
persiapan logistik);
2. Tempoh peralihan (pelaksanaan Y2K sebenar, pemantauan
rapi prestasi loji dan membaiki serta pemulihan sistem); dan
3. Fasa selepas tempoh peralihan di mana pemantauan dan
ujian semua sistem akan diteruskan sehingga laporan akhir
Y2K diserahkan.
Sistem perisian sokongan penuh juga disiap sedia semasa
tempoh peralihan. Sebagai langkah berhati-hati, kesemua
sistem dimatikan 11/2 jam sebelum tengah malam; apabila
dihidupkan semula, sistem disahkan tidak terjejas oleh pepijat
Y2K.
Walaupun sistem SSP2 dikendalikan secara automatik
sepenuhnya, ia juga boleh dikendalikan secara manual. Bagi
memastikan operasi tidak terjejas oleh faktor luar seperti
gangguan bekalan elektrik, loji ini dilengkapkan dengan
janakuasa yang mampu membekal tenaga pada tahap muatan
operasi penuh 100% untuk Peringkat 1 dan 60% untuk
Peringkat 2, dengan simpanan bahan api yang mencukupi
bagi tugas tersebut.
YEAR 2000 COMPLIANCE
Your Company is pleased to announce
the successful and seamless transition
to the new year with no Y2K-related
computer problems and no disruption
of service. While we had
e v e ry confidence beforehand in
the reliability of our equipment,
t e c h n o l o g y, and personnel, the
Company nevertheless pre p a red
and implemented a thre e - p h a s e
contingency plan which covered:
1. The period leading up to Y2K
(testing and retesting of equipment,
training of personnel, test runs, and
logistics preparation);
2. The roll-over period (actual
implementation of Y2K, close
monitoring of plant performance,
and rectification and re c o v e ry of
system); and
3. The post roll-over phase, during
which all systems will continue to be
monitored and tested up until a
final Y2K report is submitted.
Full back-up of the software system was also on
standby during the roll-over period. All systems
were shut down 11/2 hours before midnight as a
p recaution; when turned back on it was
verified that Y2K had not affected the system.
Although fully automated, SSP2 systems can
also be operated manually. And as an added
measure to ensure that operations are not
affected by external factors like power failure,
the plant is equipped with generators which
have the capacity to supply power at full 100%
operating load for Stage 1 and 60% for Stage 2,
together with adequate fuel storage for the
task.
We would also like to thank the National Y2K
Committee, whose officials and consultants
worked with PNSB to ensure a flawless
transition.
YBhg Dato’ Rozali and YBhg Datuk Shariff being briefed on the Y2K test procedure at SSP2YBhg Dato‘ Rozali and YBhg Datuk Shariff diberi taklimat mengenai prosedur ujian Y2K di SSP2
53
Kami juga ingin mengucapkan terima kasih kepada
semua pegawai dan pakar runding Jawatankuasa
Y2K Negara yang telah bekerjasama dengan PNSB
untuk memastikan peralihan berjalan lancar tanpa
sebarang gangguan.
PROSPEK MASA DEPA N
P rospek masa depan jangka panjang adalah cerah.
Kini, PNSB merupakan pembekal air bersih yang
terbesar di Malaysia. Kajian menunjukkan bahawa
p e rmintaan air negara bagi tempoh beberapa tahun
mendatang akan sentiasa meningkat pada kadar
empat hingga lapan peratus. Pada 1999, perm i n t a a n
air di Selangor dan Wilayah Persekutuan adalah 2828
JLH, sementara keupayaan penuh semua loji
pembersihan air adalah 2973 JLH. Ini berm a k n a
perbezaan antara permintaan dan bekalan hanyalah
145 JLH, sekadar lima peratus sahaja. Unjuran
perbezaan masa depan juga berada dalam
lingkungan anggaran yang sama, ini belum lagi
diambil kira perubahan cuaca, kemalangan dan
f a k t o r-faktor lain.
Mengikut satu lagi kajian bebas terkini, unjuran
penduduk Selangor dijangka meningkat daripada 5.37
juta kepada 7.94 juta antara 2000 hingga 2010,
kenaikan sebanyak 48%; sebaliknya jumlah
p e rmintaan air dalam tempoh yang sama dijangka
meningkat daripada 3088 JLD kepada 5382 JLH,
lonjatan sebanyak 74%. Ini menunjukkan bahawa
p e rtambahan satu peratus penduduk menyamai dua
peratus pertambahan perm i n t a a n .
Sektor yang menjana pertumbuhan ekonomi negara–
p e rtanian, perkilangan, pembinaan, pembangunan
h a rtanah, Teknologi Maklumat, pelancongan dan lain-
lain industri perkhidmatan, kesemuanya berg a n t u n g
kepada sumber air yang bert e rusan dan selamat.
YBhg Dato’ Rozali and YBhg Datuk Mohd Shariff during a visit to the Y2K test facilitiesYBhg Dato’ Rozali and YBhg Datuk Mohd Shariff semasa lawatan ujian Y2K
FUTURE PROSPECTS
Prospects for sustained long-term growth are robust. At
present, PNSB is the nation’s largest provider of treated
water. Studies show that the demand for water in
Malaysia over the next few years will rise at a fairly
constant four to eight percent annual growth rate. In
1999, water demand in Selangor and the Federal
Te rr i t o ry was 2828 MLD, while total WTP capacity
registered 2973 MLD. This means that the difference
between demand and supply was just 145 MLD, a scant
five percent. Future projected differentials fall within the
same narrow range, and do not take into account
vagaries of weather, accidents, and other variables.
A c c o rding to another recent independent study, the
p rojected population of Selangor and Kuala Lumpur will
g row from 5.37 to 7.94 million residents between 2000
and 2010, an increase of 48%; whilst the total water
demand within that period will increase from 3088 MLD
to 5382 MLD, a whopping 74% rise, where a one perc e n t
i n c rease in population roughly equates to a two perc e n t
jump in demand.
The country’s economic engines of growth– agriculture,
manufacturing, construction, property development, IT,
tourism and other service industries– are all dependent
on safe and steady sources of water.
The Privatisation Policy guidelines formulated by the
Government in 1983 opened the way to the private
sector’s involvement in water supply and management,
and has to a large extent paved the way toward
ameliorating these problems through the timely
intervention of market forces. PNSB has, almost since its
inception, assumed a pivotal role in this transformation.
Today, we are the largest supplier of treated water to the
state of Selangor and the Federal Territory, accounting
for 62% of the water requirements in Selangor and
Kuala Lumpur.
54
Thus, the trend towards further water privatisation in Malaysia continues briskly, with the Government’s desire
to open the industry to market forces matched by its concern over the rapidly rising costs of building new
facilities and infrastructure. Therefore, the blueprint for responsible water management in the 21st century is to
a large extent driven by economic factors. The bulk capital outlays now required to build new facilities are
enormous. States today can barely cover operating costs, much less new capital-intensive costs. For this reason
they have invited the private sector to come in.
In early 2000, a significant new development has
been PNSB’s invitation to participate in SSP3, which
is currently in negotiation. SSP3, a 30-year
concession agreement between Syarikat Pengeluar
Air Sungai Selangor Sdn Bhd (SPLASH) and the
Selangor State Government was signed on 24
J a n u a ry 2000. The RM2.146 billion project will
harness water from Sungai Selangor, and includes
the construction of a dam at Sungai Selangor, near
Kuala Kubu Bahru and two WTPs at Rasa and Bukit
Badong. The scheduled pro g re s s i v e - s t a g e d
completion is 2002–2004.
We are of course pleased and honoured by the
Selangor State Govern m e n t ’s decision to invite
PNSB’s participation in SSP3. Acceptance by the
Company of the revised proposed equity stake of
25% (from an initial proposal of 20% equity) will
depend on whether we can agree to terms with the
other parties and also on whether we believe our
p a rticipation will provide our investors and
shareholders with a suitable rate of return.
Should on-going negotiations bear fruit and we do
a c q u i re satisfactory participation in SSP3, the
Company will then be even more strategically
positioned as the main player in the supply,
treatment and distribution of water to Selangor and
the Federal Territory.
Closely related to pure cost considerations in
devising a strategy for the future are other realities:
the raw water retrieved today is more polluted than
in the past, which means higher treatment costs and
the application of more advanced tre a t m e n t
technology. The source of the water itself originates
further and further from its ultimate destination–
the consumer. This also translates into higher costs.
Garispanduan Dasar Penswastaan yang dirumuskan oleh
Kerajaan pada 1983 membuka peluang kepada sektor
swasta melibatkan diri dalam pembekalan dan
pengurusan air dan membolehkan masalah industri ini
diselesaikan melalui kuasa pasaran. Semenjak
ditubuhkan, PNSB telah memainkan peranan penting
dalam perubahan senario ini. Kini, Syarikat merupakan
pembekal terbesar air bersih di negeri Selangor dan
Wilayah Persekutuan dengan memenuhi kira-kira 62%
daripada keperluan air di kedua-dua kawasan ini.
Dasar penswastaan air di Malaysia masih giat diteruskan
selaras dengan hasrat Kerajaan untuk membuka industri
ini kepada kuasa pasaran memandangkan kos
membangunkan kemudahan dan infrastruktur baru
adalah tinggi dan semakin meningkat. Oleh demikian,
dasar pengurusan air yang bertanggungjawab pada abad
ke 21 ini didorong terutamanya oleh faktor ekonomi.
Modal asas yang diperlukan untuk membangunkan
kemudahan baru adalah sangat besar. Kerajaan negeri
sekarang menghadapi kesukaran untuk menampung kos
operasi bekalan air, apatah lagi kos modal yang amat
tinggi untuk membina kemudahan baru. Atas alasan
inilah kerajaan telah mempelawa sektor swasta untuk
mengambilalih tanggungjawab berat ini.
Pada awal tahun 2000, PNSB telah dipelawa untuk terlibat
dalam SSP3 yang kini masih dalam peringkat peru n d i n g a n .
Ini adalah satu perkembangan baru yang penting kepada
PNSB. SSP3, perjanjian konsesi 30 tahun antara Syarikat
Pengeluar Air Sungai Selangor Sdn Bhd (SPLASH) dan
Kerajaan Negeri Selangor, telah ditandatangani pada 24
Januari 2000. Projek bernilai RM2.146 bilion ini akan
menjana air daripada Sungai Selangor dan merangkumi
pembinaan sebuah empangan di Sungai Selangor,
b e rdekatan Kuala Kubu Bahru dan dua buah loji
pembersihan air di Rasa dan Bukit Badong. Projek ini
dijadualkan siap secara berperingkat antara 2002–2004.
55
Kami memang berasa bangga dan tersanjung dengan keputusan
Kerajaan Negeri Selangor mempelawa PNSB untuk turut serta dalam
SSP3. Penerimaan oleh Syarikat ke atas semakan cadangan kepentingan
ekuiti sebanyak 25% (daripada cadangan awal 20%) akan berg a n t u n g
kepada persetujuan syarat oleh semua pihak yang terlibat dan juga atas
keyakinan sama ada penglibatan kami ini akan menghasilkan nilai
pulangan yang setimpal kepada para pelabur dan pemegang saham
k a m i .
Sekiranya rundingan membuahkan hasil dan kami mempero l e h i
penglibatan yang memuaskan dalam SSP3, maka Syarikat akan
menempa kedudukan yang lebih strategik sebagai pembekal utama
dalam bekalan, rawatan dan agihan air ke Selangor dan Wilayah
Persekutuan.
Dalam mencorak strategi masa depan, pertimbangan kos semata-mata tidak
mencukupi. Pada hakikatnya kami perlu memikirkan tentang perkara-perkara lain:
air mentah yang kami perolehi hari ini adalah lebih tercemar daripada dahulu, oleh
itu kos rawatannya adalah lebih tinggi, juga penggunaan teknologi rawatan yang
lebih maju. Sumber air kini semakin jauh daripada destinasi–pengguna, ini
menyebabkan peningkatan kos penyaluran.
Berdasarkan keluasan sumber air dan kepakaran yang sedia
ada, Syarikat berada dalam kedudukan mantap untuk
mengekalkan peranannya sebagai pemimpin yang tabah
menghadapi segala cabaran baru. Rancangan jangka panjang
kami berserampang tiga:
P e rtama, untuk menggembleng dan memantapkan usaha
dalam Selangor dan Wilayah Persekutuan, bukan sekadar
meluaskan khidmat bekalan dan rawatan air malah dalam
sektor agihan air juga.
Kedua, meninjau peluang menembusi pasaran baru dalam
Malaysia secara agresif. Peranan sebagai peneraju industri
memberi kami kelebihan dalam membuat bida bagi konsesi
penswastaan air di negeri-negeri lain yang kini sedang dalam
kajian Syarikat.
Ketiga, kami memang ingin menembusi pasaran baru di luar
sempadan Malaysia. Kami telahpun mula menilai potensi pasaran
di rantau ASEAN. Dengan pemulihan ekonomi Asia Tenggara dan
usaha penswastaan yang semakin giat, PNHB yakin dapat bersaing
untuk mendapatkan projek infrastruktur skala besar di seluru h
rantau Asia.
With its already considerable resources and
expertise, the Company is ideally positioned
to maintain a leadership role in the face of
these new challenges. Our long-term plan is
three-fold:
First, to consolidate efforts within Selangor
and the Federal Te rr i t o ry, not only by
expanding supply and treatment services, but
also in the distribution sector.
Second, we are looking to expand
a g g ressively into new markets within
Malaysia. Our leadership role gives us the
edge when bidding for water privatisation
concessions in other states; entry into some of
these new markets is currently under study.
T h i rd, we are eager to tap new markets
beyond Malaysia’s borders. We have already
begun to assess the market potential in the
ASEAN region. As Southeast Asia’s economies
rebound and water privatisation eff o rt s
intensify, PNHB will be admirably positioned
to compete for large-scale infrastru c t u re
projects throughout the region.
SSP2 Administration BuildingBangunan Pentadbiran SSP2
Eventsc o r p o r a t e h i g h l i g h t ss o r o t a n p e r i s t i w a k o r p o r a t
Corporate Events
11 February
Briefing to YB Dato' Fuad Hassan
on the Dam Levels.
6 March
River Rescue Brigade Campaign
Programme V, officiated by YB
Dato' Yap Pian Hon, Member of
Parliament of Serdang.
Acara Korporat
11 Februari
Taklimat kepada YB Dato’ Fuad
Hassan mengenai paras Empangan.
6 Mac
Kempen Briged Penyelamat
Sungai Program V dirasmikan oleh
YB Dato’ Yap Pian Hon, Ahli
Parlimen Serdang.
13 March
Participation of Puncak Niaga staff
at the DYMM Sultan Selangor ’s
73rd Birthday, march-pass parade.
20 March
SSP2 Backwash Pump Witness Test
in Sydney, Australia.
26 March
Visit to Wangsa Maju WTP by
delegation from Fukuoka City,
Japan.
9 April
Signing Ceremony of the Second
Amendment to the Construction
Cum Operation Agreement.
5 May
Visit by delegates from Dewan
Perniagaan Melayu Selangor to
Puncak Niaga's head office.
7-9 May
Earth Day Camp At Morib,
organised by the Malaysian Nature
Society (MNS) and sponsored by
Puncak Niaga.
13 Mac
Penyertaan kakitangan Puncak
Niaga di perarakan lintas hormat
sempena Hari Keputeraan ke73
DYMM Sultan Selangor.
20 Mac
Ujian SSP2 Backwash Pump
Witness di Sydney, Australia.
26 Mac
Lawatan ke Loji Pembersihan Air
Wangsa Maju oleh delegasi dari
Bandaraya Fukuoka, Jepun.
9 April
Majlis Menandatangani Pindaan
Kedua ke atas Perjanjian
Pembinaan dan Operasi.
5 Mei
Lawatan oleh rombongan Dewan
Perniagaan Melayu Selangor ke
ibu pejabat Puncak Niaga.
7-9 Mei
Kem Hari Bumi di Morib yang
dikelolakan oleh Persatuan Alam
Malaysia dan di bawah anjuran
Puncak Niaga.
56
57
20 May
Students from the Japanese School
of Kuala Lumpur made an
educational visit to Wangsa Maju
WTP and Klang Gates Dam.
22 May
Puncak Niaga’s team of 40
personnel represented the
Company on the Banner & Slogan
Competition in conjunction with
Labour Day at Stadium Putra,
Bukit Jalil.
25 May
Visit by 25 delegates from
provinces throughout China to
Bukit Nanas WTP.
15 June
Educational visit on “Rivers and
the Importance of Water” at St.
John Primary 1.
20 June
Puncak Niaga participated at the
World Environment Day Exhibition
at FRIM.
24 July
River Rescue Brigade Campaign
Programme VI at Sg Batu WTP,
officiated by the YBhg Dato’ Tang
See Hang, Selangor State
Executive Councillor, Chairman of
Village Development, Research
and Development, and the State
Assemblyman of Rawang.
9 August
Educational visit by delegates
from Hong Kong Waterworks
Department to Wangsa Maju WTP.
20 Mei
Lawatan pendidikan serombongan
pelajar-pelajar dari Sekolah Jepun
Kuala Lumpur ke Loji Pembersihan
Air Wangsa Maju dan Empangan
Klang Gates.
22 Mei
Pasukan Puncak Niaga seramai 40
orang kakitangan mewakili
Syarikat di Pertandingan
Cogankata & Panji-panji sempena
Hari Buruh di Stadium Putra, Bukit
Jalil.
25 Mei
Lawatan oleh delegasi 25 orang
dari wilayah-wilayah di Negeri
China ke Loji Pembersihan Air
Bukit Nanas.
15 Jun
Lawatan pendidikan mengenai
“Sungai dan Pentingnya Air” di
Sekolah Rendah St. John 1.
20 Jun
Puncak Niaga turut serta di
Pameran Hari Alam Sekitar
Sedunia di FRIM.
24 Julai
Kempen Briged Penyelamat
Sungai Program Vl dirasmikan
oleh YBhg Dato’ Tang See Hang,
Anggota Majlis Perbandaran
Negeri Selangor juga selaku
Pengerusi Pembangunan
Kampung, Penyelidikan dan
Pembangunan, Ahli Dewan
Undangan Rawang.
9 Ogos
Lawatan pendidikan oleh
rombongan dari Jabatan Bekalan
Air Hong Kong ke Loji
Pembersihan Air Wangsa Maju.
58
14 August
River Rescue Brigade Campaign
Programme VII at Bukit Nanas
WTP, officiated by YBhg Tan Sri
Dato’ Kamaruzzaman Shariff,
Mayor of Kuala Lumpur.
17 August
Educational visit to Primary School
on “River and the Importance of
Water” at Methodist Boys School,
Jalan Hang Jebat.
28 August
Official launching of Puncak
Niaga’s Quality Control Circle.
5-13 September
Launch of Sukan Selangor
(SUKSES) by DYMM Tengku Idris
Shah Ibni Sultan Salahuddin Abdul
Aziz Shah Al-Haj, Regent of
Selangor, at Kompleks Sukan
Kuala Selangor.
6 September
Educational visit by delegates
from Bangladesh Education
Department.
18 September
Puncak Niaga Family Day 1999 at
Stadium Shah Alam.
20 September
Cheque Presentation Ceremony
for the Football Association of
Selangor (FAS).
4 November
Cheque Presentation Ceremony by
Puncak Niaga to the Treasury of
the Bumiputra Youth
Entrepreneur, Malaysia.
14 Ogos
Kempen Briged Penyelamat
Sungai Program VII di Loji
Pembersihan Air Bukit Nanas
dirasmikan oleh YBhg Tan Sri
Dato’ Kamaruzzaman Shariff,
Datuk Bandar Kuala Lumpur.
17 Ogos
Lawatan pendidikan ke Sekolah
Methodist Lelaki Jalan Hang Jebat
mengenai “Sungai dan Pentingnya
Air.”
28 Ogos
Pelancaran rasmi Kumpulan
Kawalan Mutu Kerja Puncak Niaga.
5-13 September
Pelancaran Sukan Selangor
(SUKSES) oleh DYMM Tengku Idris
Shah Ibni Sultan Salahuddin Abdul
Aziz Al-Haj, Pemangku Sultan
Selangor di Kompleks Sukan Kuala
Selangor.
6 September
Lawatan pendidikan oleh delegasi
dari Jabatan Pendidikan
Bangladesh.
18 September
Hari Keluarga Puncak Niaga 1999
di Stadium Shah Alam.
20 September
Majlis Penyampaian Cek kepada
Persatuan Bola Sepak Selangor
(FAS).
4 November
Majlis Penyampaian Cek kepada
Perbendaharaan Usahawan Belia
Bumiputra, Malaysia.
Events
11 November
P rogram pendidikan di Convent
Bukit Nanas 1 mengenai
“Pentingnya Air dan Pencemaran
S u n g a i . ”
13 November
Lawatan ke Loji Pembersihan Air
Wangsa Maju dan Empangan Klang
Gates oleh rombongan dari
Persatuan Kebangsaan Kanak-Kanak
Berbakat (NAGC).
17 November
Laporan tahunan 1998 Puncak
Niaga Holdings Berhad menerima
Anugerah Kecemerlangan Industri
NACRA bagi kategori Pembinaan
dan Syarikat Projek Infrastruktur.
23 November
Pakar-pakar dari Japan
International Corporation Agency
(JAICA) dalam program kerjasama
teknikal bidang sanitasi dan alam
sekitar melawat Loji Pembersihan
Air Wangsa Maju.
25 November
Lawatan kumpulan Penyelidikan &
Kesedaran Hitachi ke Loji
Pembersihan Air Wangsa Maju.
17 December
Y2K Readiness Drill at SSP2,
officiated and witnessed by YBhg
Datuk Mohd Shariff Bin Jajang,
Chairman of the Committee for
Selangor’s Infrastructure,
Information and Information
Technology.
11 November
Educational programme at
Convent Bukit Nanas 1 on the
“Importance of Water and River
Pollution.”
13 November
Visit by The National Association
of Gifted Children (NAGC) to
Wangsa Maju WTP and Klang
Gates Dam.
17 November
Puncak Niaga Holdings Berhad’s
1998 Annual Report won the
NACRA Industry Excellence Award
for the Construction and
Infrastructure Project Companies
category.
23 November
A team of Japan International
Corporation Agency (JAICA)
Specialists on a technical
cooperation programme in the
sanitation and environmental field
visited Wangsa Maju WTP.
25 November
Hitachi Group’s Research and
Awareness visit to Wangsa Maju
WTP.
17 Disember
Latihan Persiapan dan Persediaan
Y2K di SSP2 dirasmi dan disaksikan
oleh YBhg Datuk Mohd Shariff bin
Jajang, Pengerusi Jawatankuasa
Infrastruktur, Maklumat dan
Teknologi Maklumat Selangor.
59
4 JanuariPNHB disenaraikan dalam IndeksKomposit BSKL.
20-21 SeptemberLoji Pembersihan Air SSP2memenangi Pertandingan“Pertolongan Kecemasan” yangdianjurkan oleh Persatuan BulanSabit Merah Malaysia, CawanganSelangor
25 OktoberPendaftaran PNSB sebagai AhliBersekutu Persatuan KontraktorMelayu, Malaysia CawanganWilayah Persekutuan.
17 NovemberPNHB menerima AnugerahKecemerlangan Industri NACRAdalam kategori Pembinaan danSyarikat Projek Infrastruktur.
1 DisemberPNHB disenaraikan dalam IndeksMorgan Stanley CapitalInternational Standard.
3 DisemberPendaftaran PNSB sebagaiKontraktor LembagaPembangunan Industri PembinaanMalaysia.
27 DisemberPendaftaran PNSB sebagaikontraktor Petronas.
4 JanuaryPNHB was included in the KLSEComposite Index.
20-21 SeptemberSSP2 WTP won the “First Aid”Competition organised by thePersatuan Bulan Sabit MerahMalaysia, Cawangan Selangor.
25 OctoberRegistration of PNSB as anAssociate Member of PersatuanKontraktor Melayu, MalaysiaCawangan Wilayah Persekutuan.
17 NovemberPNHB received the NACRAIndustry Excellence Award underthe Construction andInfrastructure Project Companiescategory.
1 DecemberPNHB was included in the MorganStanley Capital InternationalStandard Index.
3 DecemberRegistration of PNSB as aContractor with the ConstructionIndustry Development BoardMalaysia.
27 DecemberRegistration of PNSB as contractorwith Petronas.
c o r p o r a t e a c h i e v e m e n t sp e n c a p a i a n k o r p o r a t
Puncak Niaga’s In-House MagazinesMajalah Dalaman Puncak Niaga
60
61
a n a l y s i s o f s h a r e h o l d i n g sa s a t 2 1 A p r i l 2 0 0 0
a n a l i s a p e g a n g a n s a h a m p a d a 2 1 A p r i l 2 0 0 0
Authorised capital: Modal dibenarkan: RM 300,000,000
Issued and paid-up capital: Modal diterbit dan dibayar: RM 250,000,000
Class of share s : Kelas saham: O rd i n a ry shares of RM1 each
Saham biasa RM1 setiap satu
Analysis of shareholdings by range gro u p
Analisa pegangan saham mengikut kumpulan
Size of Share h o l d i n g s No. of Shareholders No.of Share s
Saiz Pegangan Saham Bil. Pemegang Saham % Bil. Saham %
1 – 499 1 7 0 . 1 8 4 4 8 0 . 0 0
500 – 5000 7 , 9 6 1 8 4 . 0 4 1 4 , 7 9 4 , 4 1 0 5 . 9 2
5001 – 10000 7 8 4 8 . 2 8 6 , 6 6 7 , 1 4 2 2 . 6 7
10001 – 100000 5 9 9 6 . 3 2 1 8 , 2 6 3 , 0 0 0 7 . 3 1
100001 – 1000000 9 3 0 . 9 8 2 6 , 2 0 0 , 0 0 0 1 0 . 4 8
1000001 – Above Ke atas 1 9 0 . 2 0 1 8 4 , 0 7 5 , 0 0 0 7 3 . 6 2
Total J u m l a h 9 , 4 7 3 1 0 0 . 0 0 2 5 0 , 0 0 0 , 0 0 0 1 0 0 . 0 0
20 Largest Share h o l d e r s 20 Pemegang Saham Te r b e s a r
Name of Shareholders No.of Share s
Nama Pemegang Saham B i l . S a h a m %
01 Arab-Malaysian Nominees (Tempatan) Sdn Bhd 68,026,000 27.21Arab-Malaysian Finance Bhd for Central Plus (M) Sdn Bhd (7/655-6)
02 Employees Provident Fund Board 28,415,000 11.3703 Arab-Malaysian Finance Berhad 2 0 , 7 1 0 , 0 0 0 8 . 2 8
Pled. Sec A/C for Central Plus (M) Sdn Bhd (S M A RT)
04 Al Wakalah Nominees (Tempatan) Sdn Bhd 17,000,000 6.80Pled. Sec A/C for Central Plus (M) Sdn Bhd - BIMBHO
05 Central Plus (M) Sdn Bhd 13,634,000 5.4506 DB (Malaysia) Nominee (Tempatan) Sdn Bhd 8,140,000 3.26
DBSPN for Central Plus (M) Sdn Bhd
07 Kumpulan Darul Ehsan Berhad 4,455,000 1.7808 Bank Kerjasama Rakyat Malaysia Berhad 4,000,000 1.60
Pled. Sec A/C for Kumpulan Darul Ehsan Berhad
09 Bumiputra-Commerce Trustee Berhad 3,660,000 1.4610 Al Wakalah Nominees (Tempatan) Sdn Bhd 3,000,000 1.20
Pled. Sec A/C for Corporate Line (M) Sdn Bhd (BIMBHO)
11 Kumpulan Wang Amanah Pencen 2,140,000 0.8612 Public Nominees (Tempatan) Sdn Bhd 1,873,000 0.75
Pled. Sec A/C for Waterfront Capital Markets Sdn Bhd (JSS)
13 Corporate Line (M) Sdn Bhd 1,737,000 0.6914 Perbadanan Nasional Berhad 1,605,000 0.641 5 Universal Trustee (Malaysia) Berh a d 1 , 4 2 5 , 0 0 0 0 . 5 7
Pled. Sec A/C for BHLB Pacific High Growth Fund
1 6 Amanah Raya Nominees (Tempatan) Sdn Bhd 1 , 3 9 9 , 0 0 0 0 . 5 6Pled. Sec A/C for Sekim Amanah Saham Nasional
1 7 PRB Nominees (Tempatan) Sdn Bhd 1 , 3 6 9 , 0 0 0 0 . 5 5Rubber Industry Smallholders Development Authority
1 8 Kumpulan Perangsang Selangor Berh a d 1 , 1 6 5 , 0 0 0 0 . 4 71 9 P e rmodalan Negeri Selangor Berh a d 1 , 1 6 5 , 0 0 0 0 . 4 7
2 0 Amanah Raya Nominees (Tempatan) Sdn Bhd 1 , 1 5 9 , 0 0 0 0 . 4 6Pled. Sec A/C for Amanah Saham Wawasan 2020
Total J u m l a h 1 8 6 , 0 7 7 , 0 0 0 7 4 . 4 3
62
Substantial Shareholders as per Register of Substantial Shareholders
Pemegang Saham Utama mengikut Daftar Pemegang Saham Utama
Name of Shareholders No.of Shares
Nama Pemegang Saham Bil. Saham %
01* DATO’ ROZALI BIN ISMAIL 132,247,000 52.9002* SHAARI BIN ISMAIL 132,247,000 52.9003**CENTRAL PLUS (M) SDN BHD (183535 W) 127,510,000 51.0004 ARAB-MALAYSIAN NOMINEES (TEMPATAN) SDN BHD (51181 W) 68,569,000 27.43
Beneficial Owners Pemilik Benefisiari:a Arab-Malaysian Finance Berhad 68,026,000
for Central Plus (M) Sdn Bhd (183535 W)
b Assar Asset Management Sdn Bhd 70,000for Sarawak Land Development Board
c Assar Asset Management Sdn Bhd 16,000for Sarawak Land Consolidation And Rehabilitation Authority
d Assar Asset Management Sdn Bhd 10,000for Sarawak Plantations Services Sdn Bhd
e Assar Asset Management Sdn Bhd 4 0 , 0 0 0for Bintulu Development Authority
f Assar Asset Management Sdn Bhd 1 5 , 0 0 0for Lembaga Kumpulan Wang Kawasan Konsesi Hutan
g Assar Asset Management Sdn Bhd 4 , 0 0 0for SOCSO Employees Provident Fund
h Assar Asset Management Sdn Bhd 4 , 0 0 0for Lembaga Amanah Kebajikan Darul Falah
i Assar Asset Management Sdn Bhd 2 , 0 0 0for Mayang Tea Sdn Bhd (101807 U)
j Assar Asset Management Sdn Bhd 4,000 for Faradale Enterprise Bhd (54382 M)
k AMMB International (L) Ltd 3 5 , 0 0 0for TA Securities Berhad (16029 V)
l Arab-Malaysian Trustee Bhd 3 4 3 , 0 0 0as trustee for Pacific Pearl Fund
0 5 EMPLOYEES PROVIDENT FUND BOARD 2 8 , 5 1 5 , 0 0 0 1 1 . 4 10 6 A R A B - M A L AYSIAN FINANCE BERHAD (TEM5493) 2 2 , 6 1 8 , 0 0 0 9 . 0 5
Beneficial Owners Pemilik Benefisiari:a Tham Kah Cheng @ Tum Ka Te n 1 , 0 0 0b Rajini Bin Ramlan 4 1 0 , 0 0 0c Beevee (M) Sdn Bhd (347870 K) 8 5 0 , 0 0 0d Simfoni Warisan Sdn Bhd (378892 K) 5 5 5 , 0 0 0e Nadzir Bin Sheikh Fazir 2 , 0 0 0f Ong Teong Seng 7 , 0 0 0g Tan Chok Uing @ Tan Chok Sing 5 , 0 0 0h Phang Soon Ping 5 , 0 0 0i Telapak Holding Sdn Bhd 3 , 0 0 0j Michiel Leo A/L Leo Philip 1 , 0 0 0k Louis S/O Savarimuthu 2 , 0 0 0l Syed Hussin Al Junid 3 0 , 0 0 0m Peter Ling Ee Kong 1 0 , 0 0 0n Zahariah Binti Abu Kassim 5 , 0 0 0o Wong Hon Kong 2 , 0 0 0p Chuah Chong Lai 1 0 , 0 0 0q Bong Kee Kien 3 , 0 0 0r How Wan Lai 5 , 0 0 0s Lau Tin Lai 1 , 0 0 0t Kong Soo Fong 1 , 0 0 0u Central Plus (M) Sdn Bhd (183535 W) 2 0 , 7 1 0 , 0 0 0
l i s t o f p r o p e r t ys e n a r a i h a r t a n a h
Substantial Shareholders as per Register of Substantial Shareholders (cont’d)
Pemegang Saham Utama mengikut Daftar Pemegang Saham Utama (sambungan)
Name of Shareholders No.of Shares
Nama Pemegang Saham Bil. Saham %
0 7 KUMPULAN DARUL EHSAN BERHAD (148040 T) 1 2 , 0 0 0 , 0 0 0 4 . 8 00 8 DB (M) NOMINEE (TEMPATAN) SDN BHD (66878 U) 8 , 1 4 0 , 0 0 0 3 . 2 6
for Central Plus (M) Sdn Bhd (183535 W)
0 9 CHASE MALAYSIA NOMINEES (ASING) SDN BHD (258327 T) 5 , 0 2 6 , 0 0 0 2 . 0 1Beneficial Owners Pemilik Benefisiari:a ABN AMRO Asian Tigers Fund US 5 0 , 0 0 0b Abu Dhabi Investment Authority 2 , 1 7 9 , 0 0 0c General Accident Life Assurance Limited 918,000 d General Accident Linked Life Assurance Limited 9 3 5 , 0 0 0e General Accident Staff Pension Trustee Limited 5 7 , 0 0 0f LGT Bank In Leichtenstein 8 0 , 0 0 0g Stichting Pensioenfonds ABP 8 0 0 , 0 0 0h Pension Fund of Snow Brand Food 7 , 0 0 0
The Yasuda Trust & Banking Co. Ltd.
* Deemed interest by virtue of 50% equity interest in Central Plus (M) Sdn Bhd and Corporate Line (M) Sdn BhdDianggap mempunyai kepentingan menerusi 50% kepentingan ekuiti di dalam Central Plus (M) Sdn Bhddan Corporate Line (M) Sdn Bhd
* * Held in own name and various nominee namesPegangan atas nama sendiri dan nama pelbagai calon (‘nominee’)
Type of Pro p e rt y L o c a t i o n Land Are a Net Book Va l u e Te n u re
Jenis Hart a L o k a s i Keluasan Ta n a h Nilai Buku Bersih H a k m i l i k
Vacant Land P recinct 2.2 111,443 sq. ft RM 8,302,694.00 L e a s e h o l d
Pusat Bandar 99 years
Shah Alam
Section 14
Shah Alam
Selangor Daru l
E h s a n
Tanah Kosong P recinct 2.2 111,443 kaki RM 8,302,694.00 P a j a k a n
Pusat Bandar p e r s e g i selama 99
Shah Alam t a h u n
Seksyen 14
Shah Alam
Selangor Daru l
E h s a n
Footnote: The 99 years leasehold tenure will commence from the date of issuance of the land title.
Nota: Pajakan selama 99 tahun ini akan bermula dari tarikh keluaran hakmilik tanah.
63
Water is one of our most precious re s o u rces. It is life itself. And just as we are all living beings, we mustall share in its responsible use. No one person, company,organisation, or country can ensure the long-term healthof our rivers, lakes and oceans.
The old environmental adage to “think globally, and actlocally” could be updated and made more relevant byencouraging us all to “learn, educate, and do.”
We must all learn how to become more responsible in ourwater usage. This means both gaining a bro a denvironmental perspective as well as practical knowledge.And those who know must teach those who need to betaught. We must educate our children because teachingwhen young is the best way to inculcate both knowledgeand values as one matures.
Siapa sebenarnya yang bertanggungjawab?Air adalah salah satu sumber alam yang paling bernilai.Pada hakikatnya air adalah kehidupan. Oleh kerana kitasemua adalah makhluk bernyawa, kita sama-sama perlub e rtanggungjawab dalam penggunaannya. Tidak adaseorang individu mahupun sebuah syarikat, organisasiatau negara yang boleh memastikan jangka panjangkesihatan sungai, tasik dan lautan kita sentiasaterpelihara.
Pepatah tentang alam sekitar yang menyeru kita “berfikirsejagat, bertindak setempat” kini boleh diubah mengikutkesesuaian keadaan dengan menggalak kita semua“belajar, didik dan buat.”
Kita semua perlu mempelajari bagaimana menggunakanair dengan lebih bertanggungjawab. Ini memerlukanpengetahuan amali dan perspektif yang meluasmengenai alam persekitaran. Mereka yangberpengetahuan mesti mengajar golongan yang perludiajar. Kita perlu mendidik anak-anak kita kerana usiamudalah masa yang terbaik untuk menerapkan ilmu dannilai, bak kata pepatah, “melentur buluh biar padarebungnya.”
f i n a n c i a l r e p o r t
D i rectors’ Report 6 6Consolidated Profit and Loss Account 7 1P rofit and Loss Account 7 2Balance Sheets 7 3Consolidated Cash Flow Statement 7 4Notes to the Accounts 7 5Statement by Dire c t o r s 9 0S t a t u t o ry Declaration 9 0R e p o rt of the Auditors 9 1
1 9 9 9
65
The Directors have pleasure in submitting their report together with the audited accounts of the Group and ofthe Company for the financial year ended 31 December 1999.
Principal activities
The principal activities of the Company during the financial year are that of investment holding and provision ofmanagement services. The principal activities of the subsidiary companies are set out in note 16 to the accounts.There has been no significant change in the nature of these activities during the financial year.
Financial re s u l t s
Group CompanyIn RM
Profit for the year after taxation 98,971,517 2,453,320Unappropriated profit brought forward 176,269,454 8,056,650Unappropriated profit carried forward 275,240,971 10,509,970
In the opinion of the Directors, the results of the operations of the Group and of the Company during thefinancial year were not substantially affected by any item, transaction or event of a material and unusual nature.
D i v i d e n d s
No dividend has been paid, declared or proposed since the end of the Company’s previous financial year.
Movements on re s e rves and pro v i s i o n s
There were no material transfers to or from reserves or provisions during the financial year.
Employee Loyalty Share Option Scheme
Pursuant to the Puncak Niaga Holdings Berhad’s Employee Loyalty Share Option Scheme (“ELSOS”), whichbecame effective on 8 July 1997, options over 9,094,000 ordinary shares of RM1 each in the Company wereallocated to eligible employees in the period to 31 December 1999 to take up the issued shares offered by theholding company, Central Plus (M) Sdn Bhd and another shareholder, Corporate Line (M) Sdn Bhd.
The salient features of the ELSOS are as follows:
a. Eligible person are employees who as at 30 April 1997 have been confirmed in writing as a full-timeemployee of the Group and includes full-time Executive Director.
b. The options allocated may be exercised in three (3) tranches within the period of three (3) years up to 8 July2000.
c. The exercise price for the ordinary shares under the ELSOS shall be the retail fixed price of RM3.80 on thedate the option is exercised.
d. The total number of shares offered under the ELSOS shall comprise 9,094,000 issued and fully paid upordinary shares of RM1 each of the Company.
During the financial year, options over 2,680,000 ordinary shares of RM1 each were granted in the third tranchein July 1999 at an exercise price of RM3.80 per ordinary share and as at the end of the financial year, none of theoptions have been exercised by the eligible employees.
66
d i r e c t o r s ’ r e p o r tf o r t h e y e a r e n d e d 3 1 D e c e m b e r 1 9 9 9
As at 31 December 1999, options over 5,566,000 ordinary shares of RM1 each being balance of the sharesallocated pursuant to the ELSOS has yet to be allocated.
Directors
The Directors in office since the date of the last report are:
Dato’ Rozali bin IsmailRuslan bin HassanRaja Azhar bin Raja IsmailMat Hairi bin IsmailAbdul Majid bin Abdul KarimDato’ Hari Narayanan a/l Govindasamy (appointed on 01.07.1999)Lee Miang Koi (appointed on 01.09.1999)Samsi bin Pakih (resigned on 01.07.1999)
Directors’ interests
According to the Register of Directors’ Shareholdings, particulars of interests in the shares in the Company, andits related corporations during the financial year of those Directors holding office at the end of the financial yearare as follows:
Number of ordinary shares of RM1 each1 Jan Addition Disposal 31 Dec
Direct interests in the Company:
SharesRuslan bin Hassan 238,000 – – 238,000Raja Azhar bin Raja Ismail 233,000 – 230,000 3,000Mat Hairi bin Ismail 3,000 – – 3,000Abdul Majid bin Abdul Karim 2,000 – – 2,000Lee Miang Koi 50,000 – – 50,000(at date of appointment)
Indirect interests in the Company
SharesRaja Azhar bin Raja Ismail – 225,000 – 225,000*Dato’ Hari Narayanan a/l Govindasamy 120,000 – – 120,000*Lee Miang Koi 10,000 – – 10,000*(*held by nominees)
Number of ordinary shares of RM1 eachGranted/
1 Jan Allocated Exercised 31 Dec
Share options under ELSOSRuslan bin Hassan 150,000 – – 150,000Raja Azhar bin Raja Ismail 160,000 – – 160,000Mat Hairi bin Ismail 160,000 – – 160,000Lee Miang Koi 29,000 – – 29,000(at date of appointment)
67
Directors’ interests (cont’d)
Number of ordinary shares of RM1 each1 Jan Addition Disposal 31 Dec
Direct interests in the subsidiary companies:
Unggul Raya (M) Sdn Bhd
Dato’ Rozali bin Ismail 1 – 1 –Mat Hairi bin Ismail 1 – 1 –
Puncak Research Centre Sdn Bhd
Dato’ Rozali bin Ismail 1 – 1 –Raja Azhar bin Raja Ismail 1 – 1 –Mat Hairi bin Ismail 1 – 1 –
Shares held by Central Plus (M) Sdn Bhd (holding company) in the Company 127,510,000 – – 127,510,000
By virtue of his substantial interests in Central Plus (M) Sdn Bhd, Dato’ Rozali bin Ismail is deemed to be interestedin the shares of the Company and all its subsidiary companies.
Number of ordinary shares of RM1 each1 Jan Addition Disposal 31 Dec
Direct interests in the holding company:
Central Plus (M) Sdn Bhd
Dato’ Rozali bin Ismail 13,496,500 – – 13,496,500
By virtue of his substantial interests in Central Plus (M) Sdn Bhd, Dato’ Rozali bin Ismail is deemed to be interestedin the shares of all the other subsidiary companies of Central Plus (M) Sdn Bhd to the extent Central Plus (M) SdnBhd has an interest.
68
Directors’ benefits
Since the previous financial year, no Director has received or become entitled to receive a benefit (other than theDirectors’ emoluments shown in note 5 to the accounts) by reason of a contract made by the Company or arelated corporation with the Director or with a firm of which he is a member, or with a company in which he hasa substantial financial interest, except in the following cases:
i. certain Directors receive remuneration as Directors/Executives Directors of related corporations and thebenefits arising from the options over shares in the Company allocated to certain Directors under the ELSOSas disclosed in the earlier section of this report;
ii. Dato’ Rozali bin Ismail who has financial interests in the related company, Mandai Sari Sdn Bhd whichundertakes to operate, maintain and manage the water treatment facilities under the terms of theOperation and Maintenance Agreement dated 8 October 1994 with the Company;
iii. Dato’ Rozali bin Ismail who has financial interests in a related corporation, RZ Management Services Sdn Bhdwhich provides secretarial services to the subsidiary company, Puncak Niaga (M) Sdn Bhd; and
iv. Dato’ Rozali bin Ismail and Mat Hairi bin Ismail who have financial interests in a related corporation, PuncakNiaga Overseas Capital Sdn Bhd which provides the project and investment consultancy services for overseasinvestment to the subsidiary company, Puncak Niaga (M) Sdn Bhd.
Neither during nor at the end of the financial year was the Company a party to any arrangement whose objectwas to enable the Directors to acquire benefits by means of the acquisition of shares in, or debentures of, theCompany or any other body corporate.
Other statutory information
Before the accounts of the Group and of the Company were made out, the Directors took reasonable steps:
a. to ascertain the action taken in relation to the writing off of bad debts and the making of provision fordoubtful debts and had satisfied themselves that all known bad debts had been written off and thatadequate provision had been made for doubtful debts; and
b. to ensure that any current assets which were unlikely to realise their book values in the ordinary course ofbusiness had been written down to their expected realisable values.
At the date of this report, the Directors are not aware of any circumstances:
a. which would render the amounts written off or provided for bad and doubtful debts of the Group and ofthe Company inadequate to any substantial extent or the values attributed to current assets of the Groupand of the Company misleading; and
b. which have arisen which render adherence to the existing method of valuation of assets or liabilities of theGroup and of the Company misleading or inappropriate.
69
Other statutory information ( cont’d)
In the interval between the end of the financial year and the date of this report:
a. no item, transaction or event of a material and unusual nature has arisen which, in the opinion of theDirectors, would substantially affect the results of the operations of the Group and of the Company for thecurrent financial year; and
b. no charge has arisen on the assets of any company in the Group which secures the liability of any otherperson nor has any contingent liability arisen in any company in the Group.
No contingent or other liability of any company in the Group has become enforceable or is likely to becomeenforceable within the period of twelve months after the end of the financial year which, in the opinion of theDirectors, will or may affect the ability of the Company and its subsidiary companies to meet their obligationswhen they fall due.
At the date of this report, the Directors are not aware of any circumstances not otherwise dealt with in this reportor the accounts which would render any amount stated in the accounts misleading.
Holding company
The holding company of the Company is Central Plus (M) Sdn Bhd, a company incorporated in Malaysia.
Year 2000
After having taken remedial action on all hardware, software and communication system to provide for Year2000 readiness, the Company had a smooth rollover to the Year 2000 and has not encountered any materialadverse affects on its operations todate.
Auditors
The auditors, PricewaterhouseCoopers, have expressed their willingness to continue in office.
On behalf of the Board of Directors
Dato’ Rozali bin IsmailDirector
Mat Hairi bin IsmailDirector
Kuala Lumpur24 April 2000
70
GroupIn RM Note 1999 1998
Turnover 4 347,472,486 183,415,236
Profit before taxation 5 98,971,517 57,226,090Taxation 6 – –
Profit after taxation 98,971,517 57,226,090Minority interests – 1,886
Profit attributable to shareholders 98,971,517 57,227,976Unappropriated profit brought forward 176,269,454 119,041,478
Unappropriated profit carried forward 275,240,971 176,269,454
Retained by:The Company 10,509,970 8,056,650Subsidiary companies 264,731,001 168,212,804
275,240,971 176,269,454
Earnings per ordinary share 7 39.59 sen 22.89 sen
The above profit and loss account is to be read in conjunction with the notes to the accounts on pages 75 to 89.
Auditors’ report - page 91.
71
c o n s o l i d a t e d p r o f i t & l o s s a c c o u n tf o r t h e y e a r e n d e d 3 1 D e c e m b e r 1 9 9 9
CompanyIn RM Note 1999 1998
Turnover 4 3,960,000 7,800,000
Profit before taxation 5 3,528,520 7,324,353Taxation 6 (1,075,200) (2,150,400)
Profit after taxation 2,453,320 5,173,953Unappropriated profit brought forward 8,056,650 2,882,697
Unappropriated profit carried forward 10,509,970 8,056,650
The above profit and loss account is to be read in conjunction with the notes to the accounts on pages 75 to 89.
Auditors’ report - page 91.
72
p r o f i t & l o s s a c c o u n tf o r t h e y e a r e n d e d 3 1 D e c e m b e r 1 9 9 9
Group CompanyIn RM Note 1999 1998 1999 1998
Capital and reservesShare capital 8 250,000,000 250,000,000 250,000,000 250,000,000Reserves 9 378,138,435 279,166,918 154,315,110 151,861,790
628,138,435 529,166,918 404,315,110 401,861,790
Minority interests – 3 – –Deferred and long term liabilitiesDeferred taxation 10 – – – –Long term borro w i n g s 11 1,203,576,055 1,230,757,289 – 21,150,800Hire purchase creditors 12 2,072,275 3,206,404 – –Retention sum 9,766,283 – – –
1,843,553,048 1,763,130,614 404,315,110 423,012,590
Represented by:Fixed assets 13 1,568,016,952 1,340,947,350 8,302,694 8,388,215Project development costs 14 217,728,826 219,629,481 – –Deferred expenditure 15 13,744,869 13,260,376 – –Subsidiary companies 16 – – 389,008,769 389,234,268Investments 17 45,050 45,050 – –ELSOS scheme 18 – 21,150,800 – 21,150,800
Current assetsStocks and contract work-in-progress 19 50,296,509 25,709,146 – –Trade debtor 93,121,567 108,375,648 – –Amount owing by holding company 20 1,651,117 1,651,117 – –Amount owing by a related company 21 207,909 15,699,188 – –Other debtors, deposits and prepayments 22 89,402,180 120,061,650 – –Dividend receivable from subsidiary company – – 8,294,400 5,529,600ELSOS scheme 1 8 21,150,800 – 21,150,800 –Deposits with financial institutions 23 – 182,344,404 – –Cash and bank balances 59,179,942 8,163,316 25,825 32,404
315,010,024 462,004,469 29,471,025 5,562,004
Current liabilitiesTrade creditors 9,911,248 10,319,529 – –Short term borrowings 24 57,728,358 22,088,779 21,150,800 –Hire purchase creditors 12 1,438,814 1,450,325 – –Amount owing to a related company 21 23,384,361 10,163,003 – –Other creditors and accrued liabilities 25 177,283,891 248,639,275 116,578 122,697Taxation 1,246,001 1,246,001 1,200,000 1,200,000
270,992,673 293,906,912 22,467,378 1,322,697Net current assets 44,017,351 168,097,557 7,003,647 4,239,307
1,843,553,048 1,763,130,614 404,315,110 423,012,590
The above balance sheets are to be read in conjunction with the notes to the accounts on pages 75 to 89.
Auditors’ report - page 91.
73
b a l a n c e s h e e t sa s a t 3 1 D e c e m b e r 1 9 9 9
In RM Note 1999 1998
Cash flows generated from/(used in) operating activitiesCash receipt from customers 419,366,067 382,157,355Cash paid to operators (89,684,493) (99,063,793)Cash paid to contractors (118,096,742) (198,675,544)Cash paid to employees and for operating expenses (38,428,564) (33,667,027)
Cash flow generated from operations 173,156,268 50,750,991Interests paid (50,231,775) (5,154,738)Interests received 6,554,147 22,249,117
(43,677,628) 17,094,379Net cash generated from operating activities 129,478,640 67,845,370
Cash flows from/(used in) investing activitiesAcquisition of investment in subsidiary company (3) –Proceeds from disposal of fixed assets 148,389 –Purchase of fixed assets and payment for capital work in progress (244,336,762) (551,043,918)Payments for deferred expenditure (1,226,063) (133,216)Payments for project development costs (13,423,144) (53,756,160)Payment for Wangsa Maju water treatment plant (4,441,484) (118,089,124)Repayment from holding company – 2,879,535Advances to related company (4,307,188) (6,297,053)Net cash used in investing activities (267,586,255) (726,439,936)
Cash flows from/(used in) financing activitiesReceipt of long term borrowing – 687,287,398Receipt of short term borrowing 8,400,000 –Repayment of hire purchase liabilities (1,620,163) (1,230,407)Net cash from financing activities 6,779,837 686,056,991
Net (decrease)/increase in cash and cash equivalents during the financial year (131,327,778) 27,462,425Cash and cash equivalents at beginning of financial year 190,507,720 163,045,295Cash and cash equivalents at end of financial year 26 59,179,942 190,507,720
The above consolidated cash flow statement is to be read in conjunction with the notes to the accounts on pages75 to 89.
Auditors’ report - page 91.
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c o n s o l i d a t e d c a s h f l o w s t a t e m e n tf o r t h e y e a r e n d e d 3 1 D e c e m b e r 1 9 9 9
1 Aw a rd of concessions and turnkey contract
The subsidiary company, Puncak Niaga (M) Sdn Bhd (“PNSB”) has been awarded the followingconcessions by the Selangor State Government:
i. to take over, operate, maintain, manage, rehabilitate and refurbish existing water treatment plantslocated in Selangor Darul Ehsan and Wilayah Persekutuan for a period of 26 years ending 31 December2020;
i i . to construct, operate, maintain and manage the new water treatment facilities, namely the SungaiSelangor Water Supply Scheme Phase 2, Stages I and II (“SSP2”) for a period of 26 years ending on31 December 2020; and
i i i . to manage, operate and maintain the water treatment plant at Sungai Semenyih, located inSelangor Darul Ehsan for a period of one year commencing from 5 May 1998 or the completiondate of the privatisation of Jabatan Bekalan Air Selangor, whichever is earlier. No formal extensionhas been granted to PNSB although the plant is still under the management control of PNSB.
On 17 January 1998, PNSB was given a right by the Federal Government to develop a water treatment plantand its related facilities in Wangsa Maju. The construction work commenced in March 1998 and wascompleted in July 1998. Subsequent to the completion, PNSB has been managing, operating and maintainingthe water treatment plant.
On 6 August 1998, PNSB was awarded a contract by Selangor State Government to construct and installpipelines, reservoirs and pumping stations in certain areas within the State under the Sungai Selangor WaterSupply Scheme Phase 2 Stage II - Distribution Supply System II for a sum of RM420 million. On 12 August 1999,the contract sum has been revised to RM294 million.
2 Basis of preparation of the accounts
The accounts of the Group and of the Company have been prepared in accordance with the applicableapproved Accounting Standards in Malaysia and the provisions of Companies Act, 1965.
3 Significant accounting policies
All significant accounting policies adopted by the Group and the Company are set out below:
Accounting conventionThe accounts are prepared under the historical cost convention.
Basis of consolidationThe Group adopts both the acquisition and merger methods of consolidation.
The consolidated profit and loss account and balance sheet include the accounts of the Company and all itssubsidiary companies made up to the end of the financial year. Intercompany transactions and resultingunrealised profit or loss are eliminated fully on consolidation and the consolidated accounts reflect externaltransactions only.
Acquisition methodWhen the acquisition method is adopted, the difference between the cost of control of subsidiary companyand the fair value of the net assets acquired is included in the consolidated accounts as goodwill or reserveon consolidation.
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n o t e s t o t h e a c c o u n t sf o r t h e y e a r e n d e d 3 1 D e c e m b e r 1 9 9 9
Merger methodAn acquisition of a subsidiary company which meets the criteria for merger accounting under the MalaysianAccounting Standard No. 2, Accounting for Acquisition and Mergers, is accounted for using mergeraccounting principles. When the merger method is used, the cost of investment in the Company’s books isrecorded at the nominal value of shares issued and the difference between the carrying value of theinvestment and the nominal value of shares transferred is treated as merger reserve in accordance with themerger relief provisions under Section 60(4) of the Companies Act, 1965. The results of the company beingmerged are included for the full financial year.
Fixed assetsLong term leasehold land is stated at cost and amortised over the period of the lease of 99 years.
The cost of other fixed assets comprises their purchase cost and any incidental costs of acquisition.
Capital work-in-progress represents the development costs incurred for the new water treatment facilities,namely the SSP2 Stage II and is not depreciated.
Depreciation of other fixed assets is calculated so as to write off their cost on a straight line basis over theexpected useful lives of the assets concerned. The annual rates are:
%Water treatment plant Over the period of the concessionFurniture and fittings 20Office equipment 20Renovations 331/3
Motor vehicles 20Computers and software 331/3
Plant and equipment 10
Assets acquired under hire purchase arrangementsAssets acquired under hire purchase arrangements are included in fixed assets and the capital element of thehire purchase commitments is shown as hire purchase creditors. The capital element of the hire purchaserental is applied to reduce the outstanding obligations and the interest element is charged to the profit andloss account so as to give a constant periodic rate of interest on the outstanding liability at the end of eachaccounting period. Assets acquired under hire purchase arrangements are depreciated over the useful livesof equivalent owned assets.
Project development costsProject development costs, stated at cost, comprise expenditure incurred for the rehabilitation andrefurbishment of water treatment facilities and is amortised over the period of the concession.
Deferred expenditure
Deferred expenditure, stated at cost, comprise the following:• Pre-incorporation expenses incurred are shown as preliminary expenses while expenses incurred
subsequent to date of incorporation but prior to the commencement of operations are shown as pre-operating expenses. The pre l i m i n a ry and pre-operating expenses will be written off uponcommencement of operation.
• Expenses incurred in conjunction with the acquisition of concession is amortised over the period of theconcession.
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Subsidiary companiesA subsidiary company is a company in which the Group has a long term equity investment of more than 50%and where the Group controls the composition of its board of directors or more than half of its votingpowers.
Investments in subsidiary companies are stated at cost unless in the opinion of the Directors, there has beena permanent diminution in value, in which case a provision is made.
InvestmentsLong term investments are stated at cost unless in the opinion of the Directors, there has been a permanentdiminution in value, in which case a provision is made.
Contract work-in-progressWork-in-progress on construction contract is stated at cost plus attributable profits less foreseeable loss andprogress billings received and receivable. Profit on construction work is recognised on the percentage ofcompletion method. Cost comprises all direct expenditure and direct overheads based on normal level ofactivity.
StocksStocks are stated at the lower of cost and net realisable value. In general, cost is determined on a weightedaverage basis and includes transportation and handling costs.
DebtorsKnown bad debts are written off and specific provision is made for any considered to be doubtful ofcollection.
Capitalisation of borrowing costsBorrowing costs incurred in connection with financing the construction of the capital work-in-progress andcontract work-in-progress, are capitalised and included as part of the construction and contract costsrespectively until the assets are ready for their intended use.
Currency translationsForeign currency monetary assets and liabilities are translated into Ringgit Malaysia at the rates of exchangeapproximating the rates at the balance sheet date and profit and loss items, where applicable, are convertedat rates ruling on the transaction dates. Exchange differences are included in the profit and loss account inthe year in which they arise.
Deferred taxationProvision is made using the liability method for taxation deferred in respect of all timing differences exceptwhere it is considered reasonably probable that the tax effects of such deferrals will continue in theforeseeable future. In accounting for timing differences, deferred tax debits are not accounted for unlessthere is a reasonable expectation of their realisation.
Cash and cash equivalentsCash comprises cash in hand, bank balances and demand deposits. Cash equivalents are short term, highlyliquid investments that are readily convertible to known amounts of cash and which are subject to aninsignificant risk of changes in value.
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4 Principal activities and turnover
The principal activities of the Company during the financial year are that of investment holding andprovision of management services. The principal activities of the subsidiary companies are set out in note 16to the accounts.
Turnover of the Group represents invoiced value of bulk quantity of water supplied to the Selangor StateGovernment. Turnover of the Company represents dividend income and management fees.
5 Profit before taxation
Group CompanyIn RM 1999 1998 1999 1998
Profit before taxation is stated after charging:Depreciation of fixed assets 5,013,648 5,062,068 85,521 78,395Amortisation of deferred expenditure 741,572 602,164 – –Amortisation of project development costs 10,128,506 8,537,212 – –Amortisation of water treatment plants 37,872,857 1,701,814 – –Hire purchase interest 553,891 556,183 – –Interest on term loans 56,971,786 6,555,929 – –Other interests 150,479 58,759 – –Rental of office premises 2,706,873 3,167,781 – –Directors’ remuneration:
- fees 626,067 636,000 – –- other emoluments 3,605,803 2,428,816 42,000 22,000
Fees paid/payable to firms of which a Director is a member 1,140,000 1,320,000 – –
Auditors’ remuneration- current year 90,000 65,480 15,000 10,000- underprovision in respect of previous year 15,000 – 5,000 –
Provision for diminution in value of quoted shares – 9,740 – –Hire of transport and equipment 42,545 21,700 – –
and crediting:Interest income 6,617,139 22,267,299 – 37,808Profit on construction contract 11,315,435 11,035,115 – –Gain on disposal of fixed assets 37,303 – – –
The estimated monetary value of benefits-in-kind received and receivable by the Directors otherwise than incash from the Group amounts to RM156,017 (1998: RM128,800).
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6 Taxation
Group CompanyIn RM 1999 1998 1999 1998
Malaysian income tax based on the profit for the year – – 1,075,200 2,150,400
There is no taxation charge for the Group because PNSB enjoys investment incentives under the Income TaxAct, 1967.
The effective tax rate of the Company is higher than the applicable statutory tax rate because certainexpenses are not allowable for taxation purposes.
7 Earnings per ordinary share
The basic earnings per ordinary share for the year has been calculated based on the consolidated profit aftertaxation and minority interest of RM98,971,517 (1998: RM57,227,976) on the weighted average number ofordinary shares in issue during the year of 250,000,000 (1998: 250,000,000) shares.
The Company’s Employee Loyalty Share Option Scheme does not affect the basic earnings per ordinary shareas the options are over existing issued and fully paid ordinary shares of the Company currently held by thetrustees. There will be no new issue of ordinary shares upon the exercise of these options.
8 Share capital
Group CompanyIn RM 1999 1998 1999 1998
Authorised:Ordinary shares of RM1 each
At 1 January/31 December 300,000,000 300,000,000 300,000,000 300,000,000
Issued and fully paid up:Ordinary shares of RM1 each
At 1 January/31 December 250,000,000 250,000,000 250,000,000 250,000,000
9 R e s e rv e s
Group CompanyIn RM 1999 1998 1999 1998
Non-distributable:Share premium 143,805,140 143,805,140 143,805,140 143,805,140Reserve on consolidation 92,322 92,322 – –Merger reserve (40,999,998) (40,999,998) – –
102,897,464 102,897,464 143,805,140 143,805,140
Distributable:Unappropriated profit 275,240,971 176,269,454 10,509,970 8,056,650
378,138,435 279,166,918 154,315,110 151,861,790
The Company has sufficient tax credit under Section 108 of the Income Tax Act, 1967 to frank the paymentof net dividends out of all its unappropriated profit at 31 December 1999.
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10 Deferred taxation
GroupIn RM 1999 1998
Timing differences between depreciation and amortisation, andcorresponding taxation allowances 242,044,236 412,596,241
Unabsorbed losses (248,534,879) (246,256,194)Unutilised reinvestment allowances (488,805,962) (201,555,441)
(495,296,605) (35,215,394)
11 Long term borrowings
Group CompanyIn RM 1999 1998 1999 1998
SecuredTerm loan I 300,000,000 300,000,000 – –Revolving underwriting facility 800,000,000 800,000,000 – –Unamortised interest (6,021,966) (6,080,311) – –
793,978,034 793,919,689 – –1,093,978,034 1,093,919,689 – –
UnsecuredTerm loan II 21,150,800 21,150,800 21,150,800 21,150,800Less: Repayment due in next 12 months
(Note 24) (21,150,800) – (21,150,800) –– 21,150,800 – 21,150,800
Government Support Loan 121,775,579 121,775,579 – –Less: Repayment due in next 12 months
(Note 24) (12,177,558) (6,088,779) – –109,598,021 115,686,800 – –
1,203,576,055 1,230,757,289 – 21,150,800
i. Both the term loan I and revolving underwriting facility (“RUF”) are secured by fixed charges over all theassets of the wholly owned subsidiary company, Puncak Niaga (M) Sdn Bhd (“PNSB”), the rights of PNSBunder the Concession Agreements, construction contracts and project agreements undertaken by PNSB.
Term loan I is repayable in fourteen semi-annual instalments based on pre-determined percentages ofoutstanding balance, commencing at the earlier of six months after the completion of the new facilities,or the year 2002. The interest rate of term loan I for the year is fixed at 8.5% (1998: 8.5%) per annum.
The RUF facility will expire at the earlier of 2 years after the completion of the new facilities, or the year2004, and upon its expiration, may be converted at the option of the Company into a 5 years term loan.The interest rates of RUF for the year ranged between 5.25% and 9.00% (1998: 9.00% and 17.10%) perannum and are issued with tenures of one, two, three or six months.
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1 1 Long term borrowings ( c o n t ’ d )
ii. Pursuant to the Puncak Niaga Holdings Berhad’s Employee Loyalty Share Option Scheme (“ELSOS”),which became effective on 8 July 1997, options over 9,094,000 ordinary shares of RM1 each in theCompany were allocated to eligible employees in the period to 31 December 1999 to take up the issuedshares offered by the holding company, Central Plus (M) Sdn Bhd and another shareholder, CorporateLine (M) Sdn Bhd. Term loan II was taken by the Company to provide financing to the trustee of theELSOS to acquire 5,566,000 of the 9,094,000 shares.
The loan is unsecured and repayable from the proceeds arising out of the options exercised by theeligible employees under the ELSOS within the period of 3 years up to 8 July 2000 or by a single bulletrepayment not later than July 2000. The interest rates ranged between 8.66% and 10.10% (1998: 12.25%and 14.00%) per annum.
iii. The Government Support Loan is repayable in equal annual instalments over a period of 20 yearscommencing on 11 April 1999. The interest rate is fixed at 8% per annum on the outstanding balance ofthe loan amount.
12 Hire purchase creditors
Hire purchase creditors, net of interest in suspense, are payable as follows:
GroupIn RM 1999 1998
Total payable 3,511,089 4,656,729Payable within twelve months (1,438,814) (1,450,325)
Payable after twelve months 2,072,275 3,206,404
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13 Fixed assets
Long term Furniture Computers Plant Water Capitalleasehold and Office Motor and and treatment work-in-
Group land fittings equipment Renovation vehicles software equipment plants progress TotalIn RM
1999
CostAt 1 January 8,466,610 3,301,705, 1,737,485 4,692,669 10,714,317 2,935,973 970,848 122,530,608 1,199,461,778 1,354,811,993Additions – 32,684 281,196 84,742 717,690 204,077 68,166 2,970 268,758,027 270,149,552Disposals – – – – (197,430) – (45,000) – – (242,430)Reclassifications – – – – – – – 797,592,452 (797,592,452) –At 31 December 8,466,610 3,334,389 2,018,681 4,777,411 11,234,577 3,140,050 994,014 920,126,030 670,627,353 1,624,719,115
DepreciationAt 1 January 78,395 1,398,468 772,045 3,750,751 4,371,050 1,715,432 76,688 1,701,814 – 13,864,643Charge for the year 85,521 662,343 361,723 907,982 2,224,647 634,094 132,205 37,960,348 – 42,968,863Disposals – – – – (127,607) – (3,736) – – (131,343)At 31 December 163,916 2,060,811 1,133,768 4,658,733 6,468,090 2,349,526 205,157 39,662,162 – 56,702,163
Net book valueAt 31 December 8,302,694 1,273,578 884,913 118,678 4,766,487 790,524 788,857 880,463,868 670,627,353 1,568,016,952
1998
CostAt 1 January – 2,039,033 1,354,978 5,132,777 9,553,632 2,153,283 14,400 – 686,765,178 707,013,281Additions 8,466,610 417,858 415,750 396,454 1,165,114 782,690 956,448 122,530,608 512,696,600 647,828,132Reclassifications – 844,814 (33,243) (836,562) (4,429) – – – – (29,420)At 31 December 8,466,610 3,301,705 1,737,485 4,692,669 10,714,317 2,935,973 970,848 122,530,608 1,199,461,778 1,354,811,993
DepreciationAt 1 January – 951,529 450,431 2,435,440 2,413,421 844,320 5,620 – – 7,100,761Charge for the year 78,395 520,102 333,760 1,313,243 1,998,288 801,224 71,068 1,701,814 – 6,817,894Reclassifications – (73,163) (12,146) 2,068 (40,659) 69,888 – – – (54,012)At 31 December 78,395 1,398,468 772,045 3,750,751 4,371,050 1,715,432 76,688 1,701,814 – 13,864,643
Net book valueAt 31 December 8,388,215 1,903,237 965,440 941,918 6,343,267 1,220,541 894,160 120,828,794 1,199,461,778 1,340,947,350
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13 Fixed assets (Cont’d)
Company Long term leasehold landIn RM
1999
CostAt 1 January/31 December 8,466,610
DepreciationAt 1 January 78,395Charge for the year 85,521At 31 December 163,916
Net book valueAt 31 December 8,302,694
1998
CostAddition/At 31 December 8,466,610
DepreciationCharge for the year/At 31 December 78,395
Net book valueAt 31 December 8,388,215
Included in capital work-in-progress is interest on term loans capitalised amounting to RM139,343,703 (1998:RM159,940,716). Included in water treatment plant cost is interest on borrowings capitalised amounting toRM105,636,635 (1998: RM1,230,238).
Assets acquired under hire purchase arrangementsThe value of the fixed assets of the Group includes the following assets acquired under hire purchasearrangements:
In RM 1999 1998
Motor vehicles
Cost 9,723,839 9,685,384Accumulated depreciation (5,456,078) (3,965,825)
Net book value 4,267,761 5,719,559
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14 Project development costs
GroupIn RM 1999 1998
CostAt 1 January 234,577,705 165,888,397Additions 8,227,851 68,689,308
242,805,556 234,577,705Amortisation (25,076,730) (14,948,224)At 31 December 217,728,826 219,629,481
15 Deferred expenditure
In RM 1999 1998
CostAt 1 January 14,981,487 14,848,271Additions 1,226,065 133,216
16,207,552 14,981,487Amortisation (2,462,683) (1,721,111)At 31 December 13,744,869 13,260,376
Included in deferred expenditure are concession acquisition costs and preliminary and pre-operatingexpenses of RM15,943,311 and RM264,241 (1998: RM14,964,781 and RM16,706), respectively.
Included under preliminary and pre-operating expenses incurred during the year are auditors’ remunerationand Directors’ remuneration of RM880 (1998: RM760) and RM120,000 (1998: RM40,000), respectively.
16 Subsidiary companies
CompanyIn RM 1999 1998
Unquoted shares, at cost 123,000,100 123,000,097Subordinated advances 271,368,807 271,368,807Amount owing by a subsidiary company – 50,000Amount owing to a subsidiary company (5,360,138) (5,184,636)
389,008,769 389,234,268
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16 Subsidiary companies (Cont’d)
The subsidiary companies are:
Name of Country of Interest in equity held byCompany incorporation Subsidiary Principal activities
Company company% %
Direct# Puncak Niaga (M) Sdn Bhd Malaysia 100 – Operation, maintenance,
management, constructionand undertaking therehabilitation andrefurbishment of watertreatment facilities
* Puncak Research Centre Malaysia 100 – DormantSdn Bhd
* Puncak Seri (M) Sdn Bhd Malaysia 100 – Dormant
Indirect* Ideal Water Resources Malaysia 100 100 Operation, management,
Sdn Bhd maintenance and u n d e rt a k i n gthe rehabilitation andrefurbishment of SungaiSemenyih Water TreatmentPlant, Wangsa Maju WaterTreatment Plant and SSP 2Stage I Water TreatmentPlant.
* Unggul Raya (M) Sdn Bhd Malaysia 100 100 Operation, management,maintenance and monitoringthe operation of dams
# subsidiary company consolidated using the merger accounting method* not audited by PricewaterhouseCoopers
Subordinated advances given to a subsidiary company, Puncak Niaga (M) Sdn Bhd are subordinated and shallbe released only upon substitution of these advances into equity of an equal value in that subsidiarycompany.
The amounts owing by/(to) a subsidiary company is unsecured, interest free, and has no fixed terms ofrepayment.
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17 Investments
GroupIn RM 1999 1998
Quoted shares in Malaysia, at cost 471,139 471,139Provision for diminution in value (426,089) (426,089)
45,050 45,050
Market value 47,250 45,050
1 8 ELSOS scheme
This represents amount due from the trustee of the ELSOS in respect of advances the Company has given tothem to acquire the 5,566,000 option shares from the holding company and another shareholder (see note11(ii) ).
19 Stocks and contract work-in-progress
GroupIn RM 1999 1998
Stocks:Water treatment chemicals 822,426 462,854
Contract work-in-progress:Contract cost 349,867,280 280,315,408Attributable profits less foreseeable loss 29,465,550 18,150,115
379,332,830 298,465,523Progress billings receivable (329,858,747) (273,219,231)
49,474,083 25,246,29250,296,509 25,709,146
Included in contract cost is interest on short term borrowings of RM4,663,102 (1998: RM2,816,508).
20 Amount owing by holding company
The holding company is Central Plus (M) Sdn Bhd, a company incorporated in Malaysia which owns 51% ofthe issued share capital of the Company.
The amount owing by the holding company is unsecured, interest free and has no fixed terms of repayment.
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21 Significant related party transactions and balances
In the normal course of business, the Company undertakes on an arm’s length basis a variety of transactionswith companies deemed related parties by virtue of being members of the Puncak Niaga group ofcompanies. The Puncak Niaga group of companies, with whom the Group and Company transact with,include the following companies:
Other related parties RelationshipMandai Sari Sdn Bhd A subsidiary company of Central Plus (M) Sdn BhdCentral Plus Aviation & Services Sdn Bhd A subsidiary company of Central Plus (M) Sdn BhdRZ Management Services Sdn Bhd A Director related corporationPuncak Niaga Overseas Capital Sdn Bhd A Director related corporation
The significant related party transactions (other than as previously disclosed in Note 5 to the accounts) andbalances between the Group and Company and these entities, are as follows:
Group CompanyIn RM 1999 1998 1999 1998
Significant related party transactionsManagement fees paid to a related company 500,000 500,000 – –Hiring charges payable to a related company 144,000 1,584,000 – –Management fee charged to a subsidiary company – – 120,000 120,000Dividend receivable from a subsidiary company – – 2,764,800 5,529,600
Related party balancesRelated party balances which arose from the above significant related party transactions and remainoutstanding at the year end, are as follows:
Group CompanyIn RM 1999 1998 1999 1998
Related party receivablesRelated company 207,909 15,699,188 – –Other related parties included in other debtors,
deposits and prepayments 2,631,583 – – –2,839,492 15,699,188 – –
Related party payablesRelated company 23,384,361 10,163,003 – –Other related parties included in other
creditors and accrued liabilities 2,970,000 1,469,291 – –26,354,361 11,632,294 – –
The amounts owing by/(to) the related parties arose in the ordinary course of business and are unsecured,interest free and have no fixed terms of repayment.
22 Other debtors, deposits and prepayments
Included in other debtors, deposits and prepayments of the Group are advances given to project contractorsamounting to RM64,023,600 (1998: RM108,835,030). The advances were given for project working capitalpurposes, for the Sungai Selangor Water Supply Scheme and Distribution Supply System projects pursuant tothe respective contracts.
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23 Deposits with financial institutions
Group CompanyIn RM 1999 1998 1999 1998
Fixed deposits with licensed banks – 176,344,404 – –Short term placement with licensed banks – 6,000,000 – –
– 182,344,404 – –
24 Short term borrowings
Group CompanyIn RM 1999 1998 1999 1998
Term loan (Note 11) 21,150,800 – 21,150,800Government Support Loan (Note 11) 12,177,558 6,088,779 – –Revolving credit 24,400,000 16,000,000 – –
57,728,358 22,088,779 21,150,800 –
The revolving credit facility is unsecured and repayable on demand. The interest rates for the year rangedbetween 5.19% and 9.15% (1998: 9.15% and 14.25%) per annum.
25 Other creditors and accrued liabilities
Included in other creditors and accrued liabilities of the Group are amount due to contractors and retentionsums payable of RM147,330,288 and RM NIL (1998: RM188,815,373 and RM45,266,283) respectively, pursuantto the respective contracts.
26 Cash and cash equivalents
Cash and cash equivalents included in the consolidated cash flow statement comprise the following:
In RM 1999 1998
Deposits with financial institutions – 182,344,404Cash and bank balances 59,179,942 8,163,316
59,179,942 190,507,720
27 Capital commitments
Group CompanyIn RM 1999 1998 1999 1998
Commitment under the terms of thePrivatisation cum ConcessionAgreement dated 22 September 1994for the rehabilitation and refurbishmentof water treatment facilities 22,366,981 29,411,000 – –
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27 Capital commitments (Cont’d)
Group CompanyIn RM 1999 1998 1999 1998
Commitment under the terms of theConstruction Agreement dated 22 March 1995 for the construction and completion of Sungai Selangor Water Supply Scheme Phase 2 Stage II 70,621,228 279,595,000 – –
28 Contingent liability
Group CompanyIn RM 1999 1998 1999 1998
UnsecuredCorporate guarantee given to a bank for facilities
granted to a subsidiary company – – 50,298,500 50,298,500
29 Events subsequent to balance sheet date
a. The Company is currently undertaking a Proposed Composite Issue Exercise which was announced on 12November 1999 comprising:
i. a bonus issue of 125,000,000 new ordinary share of RM1.00 each on the basis of one new ordinaryshare for every two existing ordinary shares held in the Company; and
ii a rights issue of 62,500,000 new ordinary share of RM1.00 each on the basis of one new ordinaryshare for every four existing shares held at an issue price of RM1.50 per share.
The Company has obtained a conditional approval from the Securities Commission on 20 April 2000.However, the dates of the above issues have not been determined at current date.
b. The Company has been invited by the Federal Economic Planning Unit in January 2000 to take up a 25%equity stake in Syarikat Pengeluar Air Sungai Selangor Sdn Bhd, the concessionaire for the SungaiSelangor Water Supply Scheme Phase 3 (SSP3) Project.
c. On 20 April 2000, a subsidiary company, Puncak Niaga (M) Sdn Bhd, entered into a Facilities Agreementfor banking facilities of up to RM261.5 million to finance, design, construct and commission the DSS 2Project. The banking facilities comprise a term loan and bank guarantee facilities of RM240 million andRM21.5 million, respectively.
30 Segmental reporting - Group
Segmental analysis is not presented as the Group is primarily involved in the operation, maintenance, constru c t i o n ,rehabilitation and refurbishment of water treatment facilities and operates principally in Malaysia.
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We, Dato’ Rozali bin Ismail and Mat Hairi bin Ismail, being two of the Directors of Puncak Niaga Holdings Berhad,state that, in the opinion of the Directors, the accounts set out on pages 71 to 89 are drawn up so as to exhibita true and fair view of the state of affairs of the Group and the Company as at 31 December 1999 and of theresults of the Group and the Company and the cash flows of the Group for the year ended on that date inaccordance with the applicable approved Accounting Standards in Malaysia.
Signed at Kuala Lumpur on 24 April 2000.
On behalf of the Board of Directors
Dato’ Rozali bin IsmailDirector
Mat Hairi bin IsmailDirector
I, Mat Hairi bin Ismail, being the Director primarily responsible for the financial management of Puncak NiagaHoldings Berhad, do solemnly and sincerely declare that to the best of my knowledge and belief, the accountsset out on pages 71 to 89 are correct, and I make this solemn declaration conscientiously believing the same tobe true and by virtue of the provisions of the Statutory Declarations Act, 1960.
Mat Hairi bin IsmailDirector
Subscribed and solemnly declared at Kuala Lumpur on 24 April 2000.
Before me
Neoh Swee Kee (W037)Commissioner for Oaths
s t a t e m e n t b y d i r e c t o r sp u r s u a n t t o s e c t i o n 1 6 9 ( 1 5 ) o f t h e c o m p a n i e s a c t , 1 9 6 5
s t a t u t o r y d e c l a r a t i o n
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We have audited the accounts set out on pages 71 to 89. These accounts are the responsibility of the Company’sDirectors. Our responsibility is to express an opinion on these accounts based on our audit.
We conducted our audit in accordance with approved auditing standards in Malaysia. Those standards requirethat we plan and perform the audit to obtain reasonable assurance about whether the accounts are free ofmaterial misstatement. An audit includes examining, on a test basis, evidence supporting the amounts anddisclosures in the accounts. An audit also includes assessing the accounting principles used and significantestimates made by Directors, as well as evaluating the overall accounts presentation. We believe that our auditprovides a reasonable basis for our opinion.
In our opinion:
a. the accounts give a true and fair view of the state of affairs of the Group and the Company as at 31December 1999 and of the results of the Group and of the Company and the cash flows of the Group for theyear ended on that date in accordance with the applicable approved Accounting Standards in Malaysia, andcomply with the Companies Act, 1965; and
b. the accounting and other records and the registers required by the Act to be kept by the Company and bythe subsidiaries of which we have acted as auditors have been properly kept in accordance with theprovisions of the Act.
We have considered the accounts and the auditors’ report of the subsidiaries of which we have not acted asauditors, as indicated in note 16 to the accounts.
We are satisfied that the accounts of the subsidiaries that have been consolidated with the Company’s accountsare in form and content appropriate and proper for the purposes of the preparation of the consolidated accountsand we have received satisfactory information and explanations required by us for those purposes.
The auditors’ reports on the accounts of the subsidiaries were not subject to any qualification and did not includeany comment made under subsection (3) of Section 174 of the Act.
PricewaterhouseCoopers[AF: 1146]Public Accountants
Mohd Daruis Zainuddin[969/3/01(J/PH)]Partner
Kuala Lumpur24 April 2000
re p o rt of the audi torst o t h e m e m b e r o f P u n c a k N i a g a H o l d i n g s B e r h a d
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l a p o r a n k e w a n g a n
Laporan Pengarah 94Akaun Untung Rugi Disatukan 99Akaun Untung Rugi 100Lembaran Imbangan 101Penyata Aliran Tunai Disatukan 102Nota-nota kepada Akaun 103Kenyataan Para Pengarah 118Akuan Berkanun 118Laporan Juruaudit 119
1 9 9 9
Para Pengarah dengan sukacitanya membentangkan laporan tahunan mereka berserta akaun-akaun Kumpulandan Syarikat yang telah diaudit bagi tahun kewangan berakhir 31 Disember 1999.
Kegiatan Utama
Kegiatan utama Syarikat sepanjang tahun kewangan merangkumi bidang pemegangan pelaburan danperkhidmatan pengurusan. Kegiatan utama syarikat-syarikat subsidiari adalah seperti yang dinyatakan dalamNota16 kepada akaun. Tiada sebarang perubahan ketara dalam kegiatan-kegiatan tersebut sepanjang tahunkewangan.
Keputusan Kewangan
Kumpulan SyarikatDalam RM
Keuntungan selepas cukai 98,971,517 2,453,320Keuntungan yang tidak diagihkan dibawa ke hadapan 176,269,454 8,056,650Keuntungan yang tidak diagihkan dihantar ke hadapan 275,240,971 10,509,970
Pada pendapat para Pengarah, keputusan operasi Kumpulan dan Syarikat sepanjang tahun kewangan tidakterjejas oleh sebarang perkara, urusniaga atau kejadian yang penting atau luar biasa.
D i v i d e n
Tiada dividen telah dibayar, diisytihar atau dicadang sejak akhir tahun kewangan syarikat yang lalu.
P e rgerakan Ke Atas Rizab dan Peru n t u k a n
Tiada sebarang pindahan ketara daripada atau kepada rizab dan peruntukan sepanjang tahun kewangan.
Skim Opsyen Saham Pekerja Setia
Selaras dengan Skim Opsyen Saham Pekerja Setia (ELSOS), yang berkuatkuasa pada 8 Julai 1997, opsyen ke atas9,094,000 saham biasa Syarikat bernilai RM1 setiap satu telah diperuntukkan kepada pekerja yang layak bagitempoh sehingga 31 Disember 1999 untuk membeli saham-saham terbitan yang ditawarkan oleh syarikatpegangan, Central Plus (M) Sdn Bhd dan satu lagi pemegang saham, Corporate Line (M) Sdn Bhd.
Ciri-ciri utama ELSOS adalah seperti berikut :
a. Mereka yang layak adalah pekerja yang telah disahkan secara bertulis sebagai pekerja sepenuh masa dalamKumpulan pada 30 April 1997, termasuk Pengarah Eksekutif sepenuh masa.
b. Peruntukan opsyen boleh dilaksanakan dalam tiga (3) peringkat dalam tempoh tiga (3) tahun sehingga 8Julai 2000.
c. Harga pelaksanaan bagi saham ELSOS adalah harga runcit tetap sebanyak RM3.80 pada tarikh opsyendilaksanakan.
d. Jumlah saham yang ditawarkan di bawah skim ELSOS merangkumi 9,094,000 saham biasa Syarikat yangditerbitkan dan dibayar sepenuhnya bernilai RM1 setiap satu.
Sepanjang tahun kewangan, opsyen ke atas 2,680,000 saham biasa bernilai RM1 sesaham telah diperuntukkandalam peringkat ketiga pada Julai 1999 pada harga pelaksanaan RM3.80 sesaham biasa dan sehingga akhirtahun kewangan, kesemua opsyen ini masih belum dilaksanakan oleh pekerja yang layak.
l a p o r a n p e n g a r a hb a g i t a h u n b e r a k h i r 3 1 D i s e m b e r 1 9 9 9
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Dalam tahun kewangan, opsyen ke atas 5,566,000 saham biasa bernilai RM1 setiap satu yang merupakan jumlahbaki saham ELSOS, belum lagi diperuntukkan.
Para Pengarah
Para pengarah yang berkhidmat sejak tarikh laporan lalu adalah :
Dato’ Rozali bin IsmailRuslan bin HassanRaja Azhar bin Raja IsmailMat Hairi bin IsmailAbdul Majid bin Abdul KarimDato’ Hari Narayanan a/l Govindasamy (dilantik pada 01.07.1999)Lee Miang Koi (dilantik pada 01.09.1999)Samsi bin Pakih (meletak jawatan pada 01.07.1999)
Kepentingan Para Pengarah
Menurut Daftar Pegangan Saham Pengarah, butir-butir mengenai kepentingan dalam saham-saham Syarikat danbadan-badan berkaitan sepanjang tahun kewangan bagi para Pengarah yang memegang jawatan pada akhirtahun kewangan adalah seperti berikut :
Bilangan saham biasa bernilai RM1 setiap satu1 Jan Tambahan Pelupusan 31 Dec
Kepentingan secara langsung dalam Syarikat:
SahamRuslan bin Hassan 238,000 – – 238,000Raja Azhar bin Raja Ismail 233,000 – 230,000 3,000Mat Hairi bin Ismail 3,000 – – 3,000Abdul Majid bin Abdul Karim 2,000 – – 2,000Lee Miang Koi 50,000 – – 50,000(pada tarikh perlantikan)
Kepentingan secara tidak langsung dalam Syarikat
SahamRaja Azhar bin Raja Ismail – 225,000 – 225,000*Dato’ Hari Narayanan a/l Govindasamy 120,000 – – 120,000*Lee Miang Koi 10,000 – – 10,000*(*pegangan atas nama calon)
Bilangan saham biasa bernilai RM1 setiap satuDiberi/
1 Jan Peruntukan Dilaksanakan 31 Dec
Opsyen Saham ELSOSRuslan bin Hassan 150,000 – – 150,000Raja Azhar bin Raja Ismail 160,000 – – 160,000Mat Hairi bin Ismail 160,000 – – 160,000Lee Miang Koi 29,000 – – 29,000(pada tarikh perlantikan)
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Kepentingan Para Pengarah (sambungan)
Bilangan saham biasa bernilai RM1 setiap satu1 Jan Tambahan Pelupusan 31 Dis
Kepentingan secara langsung dalam syarikat subsidiari
Unggul Raya (M) Sdn Bhd
Dato’ Rozali bin Ismail 1 – 1 –Mat Hairi bin Ismail 1 – 1 –
Puncak Research Centre Sdn Bhd
Dato’ Rozali bin Ismail 1 – 1 –Raja Azhar bin Raja Ismail 1 – 1 –Mat Hairi bin Ismail 1 – 1 –
Saham-saham yang dipegang oleh Central Plus (M) Sdn Bhd (syarikat pegangan) dalam Syarikat 127,510,000 – – 127,510,000
Oleh kerana kepentingan yang besar dalam Central Plus (M) Sdn Bhd, Dato’ Rozali bin Ismail juga dianggapmempunyai kepentingan dalam saham Syarikat dan kesemua syarikat subsidiarinya.
Bilangan saham biasa bernilai RM1 setiap satu1 Jan Tambahan Pelupusan 31 Dis
Kepentingan secara langsung dalam syarikat pegangan:
Central Plus (M) Sdn Bhd
Dato’ Rozali bin Ismail 13,496,500 – – 13,496,500
Oleh kerana kepentingan yang besar dalam Central Plus (M) Sdn Bhd, Dato’ Rozali bin Ismail juga dianggapmempunyai kepentingan dalam kesemua syarikat subsidiari Central Plus (M) Sdn Bhd mengikut tahapkepentingan Central Plus (M) Sdn Bhd.
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Faedah Para Pengarah
Sejak tahun kewangan lalu, tiada Pengarah menerima atau layak menerima faedah (selain daripada ganjaranPengarah seperti yang dinyatakan dalam Nota 5 kepada akaun) hasil daripada kontrak yang dibuat oleh Syarikatatau badan berkaitan dengan Pengarah atau dengan firma kepada akaun yang mana Pengarah berkenaanmenjadi ahlinya atau syarikat di mana beliau mempunyai kepentingan kewangan yang besar, kecuali dalam hal-hal berikut :
i. Pengarah tertentu menerima ganjaran sebagai Pengarah/Pengarah Eksekutif syarikat berkaitan dan faedahyang terbit daripada opsyen saham dalam Syarikat yang diperuntukkan kepada Pengarah tertentu di bawahskim ELSOS seperti yang diumumkan dalam bahagian awal laporan ini;
ii. Dato’ Rozali bin Ismail yang mempunyai kepentingan kewangan dalam syarikat berkaitan, Mandai Sari SdnBhd, yang bertanggungjawab mengendali, menyenggara dan menguruskan kemudahan pembersihan airmengikut syarat-syarat Perjanjian Operasi dan Pengendalian dengan Syarikat bertarikh 8 Oktober 1994;
iii. Dato’ Rozali bin Ismail yang mempunyai kepentingan kewangan dalam syarikat berkaitan, RZ ManagementServices Sdn Bhd yang menyediakan perkhidmatan kesetiausahaan kepada syarikat subsidiari, Puncak Niaga(M) Sdn Bhd; dan
iv. Dato’ Rozali bin Ismail dan Mat Hairi bin Ismail yang mempunyai kepentingan dalam syarikat berkaitan,Puncak Niaga Overseas Capital Sdn Bhd yang menyediakan perkhidmatan perundingan projek danpelaburan luar negeri kepada syarikat subsidiari, Puncak Niaga (M) Sdn Bhd.
Pada sepanjang atau akhir tahun kewangan, Syarikat tidak pernah terlibat dalam sebarang perjanjian yangbertujuan untuk membolehkan para Pengarah mendapat faedah samada melalui perolehan saham ataudebentur Syarikat atau mana-mana badan korporat lain.
Maklumat Berkanun Lain
Sebelum akaun-akaun Kumpulan dan Syarikat disediakan, para Pengarah telah mengambil langkah-langkahsewajarnya untuk :
a. memastikan tindakan diambil berhubungan dengan penghapusankira hutang lapuk dan peruntukan hutangragu dan berpuas hati bahawa kesemua hutang lapuk yang diketahui telah dihapuskira dan peruntukansecukupnya telah disediakan untuk hutang ragu; dan
b untuk memastikan sebarang aset semasa yang tidak dapat diperolehi nilai bukunya dalam urusan biasaperniagaan telah dikurangkan kepada nilai yang dijangka boleh diperolehi.
Pada tarikh laporan ini, para Pengarah tidak mengetahui sebarang keadaan :
a. yang boleh menyebabkan jumlah hutang lapuk yang dihapuskira atau jumlah peruntukan hutang raguKumpulan dan Syarikat tidak mencukupi hingga ke tahap yang ketara atau timbul kekeliruan terhadap nilaiaset-aset semasa; dan
b. yang telah timbul dan mungkin akan menyebabkan pematuhan kepada kaedah sedia ada bagi penilaianaset atau tanggungan Kumpulan dan Syarikat mengelirukan dan tidak sesuai.
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Maklumat Berkanun Lain (sambungan)
Dalam tempoh perantaraan akhir tahun kewangan dan tarikh laporan ini dibuat:
a. tiada perkara, urusniaga atau kejadian penting dan perkara luar biasa yang mengikut pendapat paraPengarah dapat mempengaruhi keputusan operasi Kumpulan dan Syarikat bagi tahun kewangan semasa ;dan
b. tiada cagaran yang timbul ke atas aset mana-mana syarikat dalam Kumpulan yang menjadi sandaran bagitanggungan orang lain dan juga tiada sebarang tanggungan luar jangka yang timbul dalam mana-manasyarikat di dalam Kumpulan.
Tiada tanggungan luar jangka atau tanggungan lain mana-mana syarikat dalam Kumpulan yang telahdikuatkuasakan atau berkemungkinan dikuatkuasakan dalam tempoh dua belas bulan selepas akhir tahunkewangan yang pada pendapat para Pengarah, akan atau mungkin menjejaskan keupayaan Syarikat dansyarikat-syarikat subsidiarinya untuk memenuhi kewajipan masing-masing apabila sampai tempohnya kelak.
Pada tarikh laporan ini, para Pengarah tidak mengetahui akan adanya sebarang keadaan yang tidak diambilkiradalam laporan ini atau akaun-akaun yang boleh menyebabkan kekeliruan pada mana-mana jumlah yangdinyatakan dalam akaun.
Syarikat Pegangan
Syarikat pegangan ialah Central Plus (M) Sdn Bhd, sebuah syarikat yang diperbadankan di Malaysia.
Tahun 2000
Setelah mengambil kira tindakan membaikpulih ke atas semua perkakasan, perisian dan sistem komunikasi bagimelengkapi persediaan Y2K, Syarikat telah berjaya melangkah ke alaf 2000 tanpa mengalami sebaranggangguan yang menjejaskan operasinya sehingga kini.
Juruaudit
Juruaudit, PricewaterhouseCoopers, telah menyatakan kesediaan mereka untuk dilantik semula.
Bagi pihak Lembaga Pengarah
Dato’ Rozali bin IsmailPengarah
Mat Hairi bin IsmailPengarah
Kuala Lumpur24 April 2000
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KumpulanDalam RM Nota 1999 1998
Perolehan 4 347,472,486 183,415,236
Keuntungan sebelum cukai 5 98,971,517 57,226,090Cukai 6 – –
Keuntungan selepas cukai 98,971,517 57,226,090Kepentingan minoriti – 1,886
Keuntungan yang boleh diagihkan kepada para pemegang saham 98,971,517 57,227,976
Keuntungan yang tidak diagihkan dibawa ke hadapan 176,269,454 119,041,478
Keuntungan yang tidak diagihkan dihantar ke hadapan 275,240,971 176,269,454
Dipegang oleh:Syarikat 10,509,970 8,056,650Syarikat-syarikat subsidiari 264,731,001 168,212,804
275,240,971 176,269,454
Pendapatan sesaham biasa 7 39.59 sen 22.89 sen
Akaun untung rugi di atas perlu dibaca seiring dengan nota-nota kepada akaun pada muka surat 103 hingga 117
Laporan juruaudit - muka surat 119
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SyarikatDalam RM Nota 1999 1998
Perolehan 4 3,960,000 7,800,000
Keuntungan sebelum cukai 5 3,528,520 7,324,353Cukai 6 (1,075,200) (2,150,400)
Keuntungan selepas cukai 2,453,320 5,173,953Keuntungan yang tidak diagihkan dibawa ke hadapan 8,056,650 2,882,697
Keuntungan yang tidak diagihkan dihantar ke hadapan 10,509,970 8,056,650
Akaun untung rugi di atas perlu dibaca seiring dengan nota-nota kepada akaun pada muka surat 103 hingga 117
Laporan juruaudit - muka surat 119
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Kumpulan SyarikatDalam RM Nota 1999 1998 1999 1998
Rizab dan modalModal saham 8 250,000,000 250,000,000 250,000,000 250,000,000Rizab 9 378,138,435 279,166,918 154,315,110 151,861,790
628,138,435 529,166,918 404,315,110 401,861,790
Kepentingan minoriti – 3 – –Tanggungan jangka panjang dan tertundaCukai tertunda 10 – – – –Pinjaman jangka panjang 11 1,203,576,055 1,230,757,289 – 21,150,800Pemiutang sewa-beli 12 2,072,275 3,206,404 – –Jumlah tertahan 9,766,283 – – –
1,843,553,048 1,763,130,614 404,315,110 423,012,590
Diwakili oleh :Aset tetap 13 1,568,016,952 1,340,947,350 8,302,694 8,388,215Kos pembangunan projek 14 217,728,826 219,629,481 – –Perbelanjaan tertunda 15 13,744,869 13,260,376 – –Syarikat-syarikat subsidiari 16 – – 389,008,769 389,234,268Pelaburan 17 45,050 45,050 – –Skim ELSOS 18 – 21,150,800 – 21,150,800
Aset SemasaStok dan kontrak kerja dalam pelaksanaan 19 50,296,509 25,709,146 – –Penghutang perdagangan 93,121,567 108,375,648 – –Jumlah terhutang oleh syarikat pegangan 20 1,651,117 1,651,117 – –Jumlah terhutang oleh sebuah syarikat
berkaitan 21 207,909 15,699,188 – –Penghutang lain, deposit dan bayaran
terdahulu 22 89,402,180 120,061,650 – –Dividen belum terima dari syarikat
subsidiari – – 8,294,400 5,529,600Skim ELSOS 18 21,150,800 – 21,150,800 –Deposit dengan institusi kewangan 23 – 182,344,404 – –Wang tunai di tangan dan di bank 59,179,942 8,163,316 25,825 32,404
315,010,024 462,004,469 29,471,025 5,562,004
Tanggungan semasaPemiutang perdagangan 9,911,248 10,319,529 – –Pinjaman jangka pendek 24 57,728,358 22,088,779 21,150,800 –Pemiutang sewa-beli 12 1,438,814 1,450,325 – –Jumlah terhutang kepada sebuah
syarikat berkaitan 21 23,384,361 10,163,003 – –Pemiutang lain dan tanggungan terakru 25 177,283,891 248,639,275 116,578 122,697Cukai 1,246,001 1,246,001 1,200,000 1,200,000
270,992,673 293,906,912 22,467,378 1,322,697Aset bersih semasa 44,017,351 168,097,557 7,003,647 4,239,307
1,843,553,048 1,763,130,614 404,315,110 423,012,590
Akaun untung rugi di atas perlu dibaca seiring dengan nota-nota kepada akaun pada muka surat 103 hingga 117Laporan juruaudit - muka surat 119
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Dalam RM Nota 1999 1998
Aliran tunai dihasilkan dari/(digunakan dalam) aktiviti operasiTunai diterima daripada pelanggan 419,366,067 382,157,355Tunai dibayar kepada syarikat pengendali (89,684,493) (99,063,793)Tunai dibayar kepada kontraktor (118,096,742) (198,675,544)Tunai dibayar kepada pekerja dan untuk perbelanjaan operasi (38,428,564) (33,667,027)
Aliran tunai dihasilkan dari operasi 173,156,268 50,750,991Faedah dibayar (50,231,775) (5,154,738)Faedah diterima 6,554,147 22,249,117
(43,677,628) 17,094,379Tunai bersih dihasilkan melalui aktiviti operasi 129,478,640 67,845,370
Aliran tunai dari/(digunakan dalam) aktiviti pelaburanPerolehan pelaburan dalam syarikat subsidiari (3) –Hasil dari penjualan aset tetap 148,389 –Pembelian aset tetap dan pembayaran bagi modal kerja dalam pelaksanaan (244,336,762) (551,043,918)Pembayaran bagi perbelanjaan tertunda (1,226,063) (133,216)Pembayaran bagi kos pembangunan projek (13,423,144) (53,756,160)Pembayaran bagi loji pembersihan air Wangsa Maju (4,441,484) (118,089,124)Pembayaran balik kepada syarikat pegangan – 2,879,535Pendahuluan kepada syarikat berkaitan (4,307,188) (6,297,053)Tunai bersih digunakan dalam aktiviti pelaburan (267,586,255) (726,439,936)
Aliran tunai dari/(digunakan dalam) aktiviti pembiayaanPenerimaan pinjaman jangka panjang – 687,287,398Penerimaan pinjaman jangka pendek 8,400,000 –Pembayaran balik tanggungan sewa-beli (1,620,163) (1,230,407)Tunai bersih dari aktiviti pembiayaan 6,779,837 686,056,991
(Pengurangan)/Pertambahan bersih tunai dan kesetaraan tunai sepanjang tahun kewangan (131,327,778) 27,462,425
Tunai dan kesetaraan tunai pada permulaan tahun kewangan 190,507,720 163,045,295Tunai dan kesetaraan tunai pada akhir tahun kewangan 26 59,179,942 190,507,720
Akaun untung rugi di atas perlu dibaca seiring dengan nota-nota kepada akaun pada muka surat 103 hingga 117
Laporan juruaudit - muka surat 119
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1 Pemberian Konsesi dan Kontrak ‘Tu rn k e y ’
Syarikat subsidiari, Puncak Niaga (M) Sdn Bhd (“PNSB”) telah diberi konsesi-konsesi berikut oleh KerajaanNegeri Selangor:
i. untuk mengambilalih, melaksana, mengurus, membaikpulih dan membaiki loji-loji pembersihan airyang sedia ada di Selangor dan Wilayah Persekutuan bagi tempoh 26 tahun berakhir 31 Disember 2020;
ii. untuk membina, mengendali dan mengurus kemudahan pembersihan air yang baru, khususnya SkimBekalan Air Sungai Selangor Fasa 2, Peringkat I dan II (“SSP2”) bagi tempoh 26 tahun berakhir 31Disember 2020; dan
iii. untuk mengurus, mengendali dan menyenggara loji pembersihan air di Sungai Semenyih, SelangorDarul Ehsan bagi tempoh satu tahun bermula 5 Mei 1998 atau sehingga tarikh siap penswastaan JabatanBekalan Air Selangor, yang mana lebih awal. Tiada perlanjutan kontrak rasmi telah diberikan kepadaPNSB. Walau bagaimanapun, pengurusan dan operasi loji tersebut masih dikendalikan oleh PNSB.
Pada 17 Januari 1998, PNSB diberi hak oleh Kerajaan Persekutuan untuk membangunkan sebuah lojipembersihan air serta kemudahan-kemudahan berkaitan di Wangsa Maju. Kerja-kerja pembinaan bermulapada Mac 1998 dan telah siap sepenuhnya pada Julai 1998. Bermula dari tarikh penyiapan tersebut, PNSBtelah pun mengurus, mengendali dan menyenggara loji pembersihan air tersebut.
Pada 6 Ogos 1998, PNSB telah ditawarkan kontrak oleh Kerajaan Negeri Selangor untuk membina danmemasang saluran paip, kolam air dan stesen-stesen pam di beberapa kawasan di bawah Skim Bekalan AirSungai Selangor Fasa 2, Peringkat II - Sistem Pengagihan Bekalan Air II dengan bayaran berjumlah RM420juta. Pada 12 Ogos 1999, nilai kontrak tersebut telah dipinda menjadi RM294 juta.
2 Asas Penyediaan Akaun
Akaun-akaun Kumpulan dan Syarikat telah disediakan menurut Piawaian Perakaunan di Malaysia yangdiluluskan dan mematuhi peru n t u k a n - p e runtukan Akta Syarikat, 1965.
3 D a s a r-dasar Perakaunan Utama
Kesemua dasar perakaunan penting yang diamalkan oleh Kumpulan dan Syarikat adalah sepert ib e r i k u t :
Kelaziman perakaunanAkaun ini disediakan berasaskan kelaziman kos sejarah.
Asas penyatuanKumpulan menggunakan kaedah pengambilalihan dan penggabungan sebagai asas penyatuan.
Akaun untung rugi dan lembaran imbangan Syarikat yang disatukan terdiri daripada akaun Syarikatdan kesemua syarikat subsidiarinya yang telah disediakan sehingga akhir tahun kewangan. Uru s n i a g aantara syarikat dan hasil keuntungan atau kerugian yang diperolehi dimansuh sepenuhnya ataspenyatuan dan akaun-akaun yang disatukan itu menunjukkan urusniaga luaran sahaja.
Kaedah pengambilalihanApabila kaedah pengambilalihan digunakan, perbezaan antara kos penguasaan dan nilai saksama asetbersih syarikat subsidiari yang diperolehi telah dimasukkan ke dalam akaun disatukan sebagaimuhibah atau rizab atas penyatuan.
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Kaedah penggabungan Pengambilalihan syarikat subsidiari yang menepati kriteria penggabungan di bawah Piawaian PerakaunanMalaysia No. 2, Perakaunan untuk Pengambilalihan dan Penggabungan, telah diambilkira untukmenggunakan prinsip perakaunan penggabungan. Apabila kaedah penggabungan digunakan, kospelaburan dalam buku Syarikat dicatatkan pada nilai nominal saham-saham yang diterbitkan danperbezaan antara nilai pelaburan yang dibawa dan nilai nominal saham-saham yang dipindahkan dianggapsebagai rizab penggabungan selaras dengan peruntukan pelepasan penggabungan di bawah Seksyen 60(4)Akta Syarikat 1965. Hasil keputusan syarikat yang digabungkan telah dimasukkan dalam tahun kewangansepenuhnya.
Aset TetapTanah pajakan jangka panjang dinyatakan pada kos dan dilunaskan sepanjang tempoh pajakan selama 99tahun.
Kos aset tetap lain merangkumi kos pembelian dan sebarang kos akibat daripada pembelian.
Modal kerja dalam pelaksanaan mewakili kos pembangunan bagi loji-loji pembersihan air yang baru,khususnya SSP2 Peringkat II dan tidak disusutnilaikan.
Susutnilai aset tetap lain telah dikira untuk penghapusan kos berdasarkan kaedah garis lurus sepanjangjangka hayat aset terbabit. Kadar-kadar tahunan adalah:
%Loji pembersihan air Sepanjang tempoh konsesiPerabot dan pepasangan 20Peralatan pejabat 20Pengubahsuaian 331/3
Kenderaan bermotor 20Komputer dan perisian 331/3
Loji dan peralatan 10
Aset diperolehi di bawah perjanjian sewa-beliAset diperolehi di bawah perjanjian sewa-beli telah dimasukkan dalam aset tetap dan unsur modaltanggungan sewa-beli dinyatakan sebagai pemiutang sewa-beli. Unsur modal bayaran sewa-beli digunakanuntuk mengurangkan tanggungjawab belum jelas dan unsur faedah dikenakan terhadap akaun untung rugisupaya menunjukkan kadar faedah tetap berjangka ke atas hutang belum berbayar pada akhir tempohperakaunan. Aset yang diperolehi di bawah perjanjian sewa-beli disusustnilai sepanjang tempoh hayatberguna aset setara yang dimiliki.
Kos pembangunan projekKos pembangunan projek yang dinyatakan pada kos meliputi perbelanjaan ke atas kerja pembaikan danpemulihan kemudahan loji pembersihan air dan dilunaskan sepanjang tempoh konsesi.
Perbelanjaan TertundaPerbelanjaan tertunda yang dinyatakan pada kos, meliputi perkara-perkara berikut :
• Perbelanjaan sebelum penubuhan ditunjukkan sebagai perbelanjaan awal manakala perbelanjaanselepas tarikh penubuhan tetapi sebelum permulaan operasi ditunjukkan sebagai perbelanjaan sebelumoperasi. Perbelanjaan awal dan sebelum operasi akan dihapuskira sebaik sahaja operasi bermula.
• Perbelanjaan berkaitan perolehan konsesi dilunaskan sepanjang tempoh konsesi.
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Syarikat-syarikat SubsidiariSyarikat subsidiari ialah syarikat yang mana Kumpulan mempunyai pelaburan ekuiti jangka panjangmelebihi 50% dan menguasai keanggotaan lembaga pengarah ataupun lebih daripada separuh kuasaundinya.
Pelaburan dalam syarikat subsidiari dinyatakan pada kos kecuali jika pada pendapat para Pengarah terdapatpenurunan nilai tetap yang mana peruntukan telah disediakan.
PelaburanPelaburan jangka panjang dinyatakan pada kos kecuali jika pada pendapat para Pengarah terdapatpenurunan nilai tetap yang mana peruntukan telah disediakan.
Kontrak Kerja dalam pelaksanaanKontrak kerja dalam pelaksanaan dinyatakan pada kos ditambah keuntungan dan ditolak unjuran kerugiandan bayaran kemajuan yang telah dan akan diterima. Keuntungan ke atas kerja-kerja pembinaan diiktirafberdasarkan kaedah peratusan siap. Kos merangkumi semua perbelanjaan langsung dan tidak langsungberdasarkan tahap aktiviti biasa.
Stok Stok dinyatakan pada nilai terendah di antara kos dan nilai bersih yang diperolehi. Pada umumnya, kosditentukan berdasarkan asas purata wajaran dan merangkumi kos pengangkutan dan pentadbiran.
PenghutangHutang lapuk yang diketahui dihapuskira dan peruntukan khusus disediakan bagi mana-mana hutang ragu.
Permodalan kos pinjamanKos pinjaman berkaitan dengan pembiayaan pembinaan modal kerja dalam pelaksanaan dan kontrak kerjadalam pelaksanaan dipermodalkan dan dimasukkan sebagai sebahagian daripada kos pembinaan dan koskontrak masing-masing sehingga aset-aset tersebut sedia untuk digunakan.
Terjemahan matawangAset dan tanggungan matawang asing diterjemahkan kepada Ringgit Malaysia pada kadar tukaran palinghampir dengan tarikh lembaran imbangan, dan di mana berkaitan, item-item untung rugi akan ditukarkanpada kadar yang berkuatkuasa semasa tarikh urusniaga. Perbezaan pertukaran dimasukkan ke dalam akaununtung rugi pada tahun ianya berlaku.
Cukai tertundaPeruntukan disedia menggunakan kaedah tanggungan bagi cukai tertunda mengikut perbezaan masakecuali di mana kesan cukai dari tundaan demikian dijangka akan berterusan pada masa terdekat yangdapat diramalkan. Dalam pengiraan perbezaan masa, debit cukai tertunda tidak diambilkira kecualiterdapat jangkaan penghasilan yang berpatutan.
Tunai dan kesetaraan tunaiTunai terdiri daripada tunai dalam tangan, baki di bank dan deposit permintaan. Kesetaraan tunai adalahpelaburan mudah cair jangka pendek yang mudah ditukarkan kepada bentuk tunai dalam amaun yangdiketahui, tertakluk kepada perubahan nilai yang risikonya tidak begitu ketara.
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4 Aktiviti Utama dan Pero l e h a n
Aktiviti utama Syarikat sepanjang tahun adalah pemegangan pelaburan dan perkhidmatan pengurusan.Aktiviti utama syarikat-syarikat subsidiari adalah seperti yang dinyatakan dalam Nota 16 kepada akaun.
Perolehan Kumpulan mewakili nilai invois ke atas kuantiti air pukal yang dibekalkan kepada Kerajaan NegeriSelangor. Perolehan Syarikat mewakili pendapatan dividen dan bayaran perkhidmatan pengurusan.
5 Keuntungan sebelum cukai
Kumpulan SyarikatDalam RM 1999 1998 1999 1998
Keuntungan sebelum cukai dinyatakan selepas dikenakan:
Susutnilai aset tetap 5,013,648 5,062,068 85,521 78,395Pelunasan perbelanjaan tertunda 741,572 602,164 – –Pelunasan kos pembangunan projek 10,128,506 8,537,212 – –Pelunasan loji pembersihan air 37,872,857 1,701,814 – –Faedah sewa-beli 553,891 556,183 – –Faedah pinjaman berpenggal 56,971,786 6,555,929 – –Lain-lain faedah 150,479 58,759 – –Sewa premis pejabat 2,706,873 3,167,781 – –Ganjaran para pengarah:
- yuran 626,067 636,000 – –- lain-lain emolumen 3,605,803 2,428,816 42,000 22,000
Bayaran kepada firma yang mana Pengarah adalah ahli 1,140,000 1,320,000 – –
Ganjaran juruaudit- tahun semasa 90,000 65,480 15,000 10,000- kekurangan peruntukan tahun lalu 15,000 – 5,000 –
Peruntukan pengurangan nilai saham disebutharga – 9,740 – –Sewa pengangkutan dan peralatan 42,545 21,700 – –
dan dikreditkan:Pendapatan faedah 6,617,139 22,267,299 – 37,808Keuntungan atas kontrak pembinaan 11,315,435 11,035,115 – –Hasil dari penjualan aset tetap 37,303 – – –
Anggaran nilai faedah kebendaan yang diperolehi dan bakal diperolehi para Pengarah selain daripada tunaidari Kumpulan berjumlah RM156,017 (1998: RM128,800).
6 C u k a i
Kumpulan SyarikatDalam RM 1999 1998 1999 1998
Cukai pendapatan Malaysia berdasarkan keuntungan bagi tahun – – 1,075,200 2,150,400
Tiada sebarang cukai dikenakan ke atas Kumpulan kerana PNSB menikmati insentif pelaburan di bawah AktaCukai Pendapatan,1967.
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6 Cukai (sambungan)Kadar cukai yang dikuatkuasakan ke atas Syarikat adalah lebih tinggi daripada kadar cukai berkanun keranaterdapat perbelanjaan yang tidak dibenarkan bagi tujuan percukaian.
7 Pendapatan Sesaham Biasa
Pendapatan asas sesaham biasa bagi tahun dikira berdasarkan keuntungan disatukan selepas cukai dankepentingan minoriti berjumlah RM98,971,517 (1998 : RM57,227,976) ke atas purata wajaran bilangansaham biasa yang diterbitkan sepanjang tahun, iaitu sebanyak 250,000,000 (1998: 250,000,000).
Skim Opsyen Saham Pekerja Setia tidak menjejaskan pendapatan sesaham biasa kerana opsyen itu termasukdalam kelompok saham biasa Syarikat yang diterbitkan dan dibayar sepenuhnya, yang dipegang olehpemegang amanah. Tiada saham biasa baru akan diterbitkan selepas pelaksanaan opsyen ini.
8 Modal Saham
Kumpulan SyarikatDalam RM 1999 1998 1999 1998
Dibenarkan:Saham biasa bernilai RM1 setiap satu
Pada 1Januari/31 Disember 300,000,000 300,000,000 300,000,000 300,000,000
Diterbitkan dan dibayar sepenuhnya:Saham biasa bernilai RM1 setiap satu
Pada 1Januari/31 Disember 250,000,000 250,000,000 250,000,000 250,000,000
9 R i z a b
Kumpulan SyarikatDalam RM 1999 1998 1999 1998
Tidak boleh diagihkan:Premium saham 143,805,140 143,805,140 143,805,140 143,805,140Rizab ke atas penyatuan 92,322 92,322 – –Rizab penggabungan (40,999,998) (40,999,998) – –
102,897,464 102,897,464 143,805,140 143,805,140
Boleh diagihkan:Keuntungan yang tidak diagihkan 275,240,971 176,269,454 10,509,970 8,056,650
378,138,435 279,166,918 154,315,110 151,861,790
Syarikat mempunyai kredit cukai yang mencukupi di bawah Seksyen 108, Akta Cukai Pendapatan,1967 untukmembuat pembayaran dividen bersih daripada keuntungan yang tidak diagihkan pada 31 Disember 1999.
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10 Cukai Te rt u n d a
KumpulanDalam RM 1999 1998
Perbezaan masa antara susutnilai dan pelunasan,danelaun-elaun pencukaian berkaitan 242,044,236 412,596,241
Kerugian tidak diserap (248,534,879) (246,256,194)Elaun pelaburan semula yang tidak digunakan (488,805,962) (201,555,441)
(495,296,605) (35,215,394)
1 1 Pinjaman Jangka Panjang
Kumpulan SyarikatDalam RM 1999 1998 1999 1998
BercagarPinjaman berpenggal I 300,000,000 300,000,000 – –Kemudahan penanggung jaminan pusingan 800,000,000 800,000,000 – –Faedah yang tidak dilunaskan (6,021,966) (6,080,311) – –
793,978,034 793,919,689 – –1,093,978,034 1,093,919,689 – –
Tidak bercagarPinjaman berpenggal II 21,150,800 21,150,800 21,150,800 21,150,800Ditolak: Bayaran balik dalam tempoh 12 bulan
(Nota 24) (21,150,800) – (21,150,800) –– 21,150,800 – 21,150,800
Pinjaman Sokongan Kerajaan 121,775,579 121,775,579 – –Ditolak: Bayaran balik dalam tempoh 12 bulan
(Nota 24) (12,177,558) (6,088,779) – –109,598,021 115,686,800 – –
1,203,576,055 1,230,757,289 – 21,150,800
i. Kedua-dua pinjaman berpenggal I dan kemudahan penanggung jaminan pusingan (“RUF”) dicagarkandengan caj-caj tetap ke atas semua aset syarikat subsidiari milik penuh, Puncak Niaga (M) Sdn Bhd(“PNSB”), hak-hak PNSB di bawah Perjanjian Konsesi, kontrak pembinaan dan perjanjian projek yangdilaksanakan oleh PNSB.
Pinjaman berpenggal I hendaklah dibayar semula dalam empat belas ansuran setiap setengah tahunberdasarkan peratusan tunggakan baki yang telah ditentukan, bermula seawal-awalnya enam bulansetelah siap kemudahan baru atau pada tahun 2002. Kadar faedah atas pinjaman berpenggal I bagitahun semasa ditetapkan pada 8.5% (1998 : 8.5%) setahun.
Kemudahan RUF akan tamat tempohnya seawal-awalnya dua tahun setelah siap kemudahan baru ataupada tahun 2004 dan setelah tamat tempohnya boleh ditukarkan kepada pinjaman berpenggal 5 tahunatas pilihan Syarikat. Kadar faedah RUF bagi tahun semasa adalah antara 5.25% dan 9.00% (1998: 9.00%dan 17.10%) setahun dan diterbitkan dengan tempoh satu, dua, tiga atau enam bulan.
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1 1 Pinjaman Jangka Panjang (sambungan)
ii. Menurut Skim Opsyen Saham Pekerja Setia (“ELSOS”) Puncak Niaga Holdings Berhad, yang berkuatkuasamulai 8 Julai 1997, opsyen ke atas 9,094,000 saham biasa bernilai RM1 setiap satu dalam Syarikatdiperuntukkan kepada pekerja yang layak pada tempoh sehingga 31 Disember 1999 untuk menerimasaham-saham terbitan yang ditawarkan oleh syarikat pegangan, Central Plus (M) Sdn Bhd dan satu lagipemegang saham, Corporate Line (M) Sdn Bhd. Syarikat mendapat pinjaman berpenggal II untukmenyediakan pembiayaan kepada pemegang amanah ELSOS untuk memperolehi 5,566,000 daripada9,094,000 unit saham tersebut.
Pinjaman itu tidak bercagar dan perlu dijelaskan daripada hasil pelaksanaan opsyen oleh pekerja yanglayak di bawah ELSOS dalam tempoh tiga tahun sehingga 8 Julai 2000 atau melalui satu pembayarantunggal tidak lewat daripada Julai 2000. Kadar faedah adalah antara 8.66% dan 10.10% (1998 : 12.25%dan14.00%) setahun.
iii. Pinjaman Sokongan Kerajaan perlu dibayar semula melalui ansuran tahunan dalam tempoh masa duapuluh tahun bermula pada 11 April 1999. Kadar faedah ditetapkan pada 8% setahun atas baki jumlahpinjaman.
12 Pemiutang sewa-beli
Pemiutang sewa-beli, bersih daripada faedah tergantung, perlu dibayar seperti berikut:
KumpulanDalam RM 1999 1998
Jumlah perlu dibayar 3,511,089 4,656,729Perlu dibayar dalam tempoh 12 bulan (1,438,814) (1,450,325)
Perlu dibayar dalam tempoh 12 bulan 2,072,275 3,206,404
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13 Aset Te t a p
Tanah Perabot Komputer Loji Loji Modal
pajakan jangka dan Peralatan Pengubah- Kenderaan dan dan pembersihan kerja dalam
Kumpulan panjang pepasangan pejabat suaian bermotor perisian peralatan air pelaksanaan Jumlah
Dalam RM
1999
KosPada 1 Januari 8,466,610 3,301,705, 1,737,485 4,692,669 10,714,317 2,935,973 970,848 122,530,608 1,199,461,778 1,354,811,993Tambahan – 32,684 281,196 84,742 717,690 204,077 68,166 2,970 268,758,027 270,149,552Pelupusan – – – – (197,430) – (45,000) – – (242,430)Pengkelasan semula – – – – – – – 797,592,452 (797,592,452) –Pada 31 Disember 8,466,610 3,334,389 2,018,681 4,777,411 11,234,577 3,140,050 994,014 920,126,030 670,627,353 1,624,719,115
SusutnilaiPada 1 Januari 78,395 1,398,468 772,045 3,750,751 4,371,050 1,715,432 76,688 1,701,814 – 13,864,643Caj tahunan 85,521 662,343 361,723 907,982 2,224,647 634,094 132,205 37,960,348 – 42,968,863Pelupusan – – – – (127,607) – (3,736) – – (131,343)Pada 31 Disember 163,916 2,060,811 1,133,768 4,658,733 6,468,090 2,349,526 205,157 39,662,162 – 56,702,163
Nilai buku bersihPada 31 Disember 8,302,694 1,273,578 884,913 118,678 4,766,487 790,524 788,857 880,463,868 670,627,353 1,568,016,952
1998
Kos Pada 1 Januari – 2 , 0 3 9 , 0 3 3 1 , 3 5 4 , 9 7 8 5 , 1 3 2 , 7 7 7 9 , 5 5 3 , 6 3 2 2 , 1 5 3 , 2 8 3 1 4 , 4 0 0 – 6 8 6 , 7 6 5 , 1 7 8 7 0 7 , 0 1 3 , 2 8 1Ta m b a h a n 8 , 4 6 6 , 6 1 0 4 1 7 , 8 5 8 4 1 5 , 7 5 0 3 9 6 , 4 5 4 1 , 1 6 5 , 1 1 4 7 8 2 , 6 9 0 9 5 6 , 4 4 8 1 2 2 , 5 3 0 , 6 0 8 5 1 2 , 6 9 6 , 6 0 0 6 4 7 , 8 2 8 , 1 3 2Pengkelasan semula – 8 4 4 , 8 1 4 ( 3 3 , 2 4 3 ) ( 8 3 6 , 5 6 2 ) ( 4 , 4 2 9 ) – – – – ( 2 9 , 4 2 0 )Pada 31 Disember 8 , 4 6 6 , 6 1 0 3 , 3 0 1 , 7 0 5 1 , 7 3 7 , 4 8 5 4 , 6 9 2 , 6 6 9 1 0 , 7 1 4 , 3 1 7 2 , 9 3 5 , 9 7 3 9 7 0 , 8 4 8 1 2 2 , 5 3 0 , 6 0 8 1 , 1 9 9 , 4 6 1 , 7 7 8 1 , 3 5 4 , 8 1 1 , 9 9 3
S u s u t n i l a iPada 1 Januari – 9 5 1 , 5 2 9 4 5 0 , 4 3 1 2 , 4 3 5 , 4 4 0 2 , 4 1 3 , 4 2 1 8 4 4 , 3 2 0 5 , 6 2 0 – – 7 , 1 0 0 , 7 6 1Caj tahunan 7 8 , 3 9 5 5 2 0 , 1 0 2 3 3 3 , 7 6 0 1 , 3 1 3 , 2 4 3 1 , 9 9 8 , 2 8 8 8 0 1 , 2 2 4 7 1 , 0 6 8 1 , 7 0 1 , 8 1 4 – 6 , 8 1 7 , 8 9 4Pengkelasan semula – ( 7 3 , 1 6 3 ) ( 1 2 , 1 4 6 ) 2 , 0 6 8 ( 4 0 , 6 5 9 ) 6 9 , 8 8 8 – – – ( 5 4 , 0 1 2 )Pada 31 Disember 7 8 , 3 9 5 1 , 3 9 8 , 4 6 8 7 7 2 , 0 4 5 3 , 7 5 0 , 7 5 1 4 , 3 7 1 , 0 5 0 1 , 7 1 5 , 4 3 2 7 6 , 6 8 8 1 , 7 0 1 , 8 1 4 – 1 3 , 8 6 4 , 6 4 3
Nilai buku bersihPada 31 Disember 8 , 3 8 8 , 2 1 5 1 , 9 0 3 , 2 3 7 9 6 5 , 4 4 0 9 4 1 , 9 1 8 6 , 3 4 3 , 2 6 7 1 , 2 2 0 , 5 4 1 8 9 4 , 1 6 0 1 2 0 , 8 2 8 , 7 9 4 1 , 1 9 9 , 4 6 1 , 7 7 8 1 , 3 4 0 , 9 4 7 , 3 5 0
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13 Aset Te t a p (sambungan)
Syarikat Tanah pajakan jangka panjangDalam RM
1999
KosPada 1 Januari/31 Disember 8,466,610
SusutnilaiPada 1 Januari 78,395Caj tahunan 85,521Pada 31 Disember 163,916
Nilai buku bersihPada 31 Disember 8,302,694
1998
KosTambahan/Pada 31 Disember 8,466,610
SusutnilaiCaj tahunan/Pada 31 Disember 78,395
Nilai buku bersihPada 31 Disember 8,388,215
Termasuk dalam modal kerja dalam pelaksanaan adalah faedah ke atas pinjaman berjangka dipermodalkanberjumlah RM139,343,703 (1998 : RM159,940,716). Termasuk dalam kos loji pembersihan air adalah faedahke atas pinjaman berjangka dipermodalkan berjumlah RM105,636,635 (1998 : RM1,230,238).
Aset yang dibeli melalui perjanjian sewa-beliNilai aset tetap Kumpulan termasuk aset berikut yang dibeli melalui perjanjian sewa-beli:
Dalam RM 1999 1998
Kenderaan bermotor
Kos 9,723,839 9,685,384Susutnilai terkumpul (5,456,078) (3,965,825)
Nilai buku bersih 4,267,761 5,719,559
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14 Kos pembangunan pro j e k
KumpulanDalam RM 1999 1998
KosPada 1 Januari 234,577,705 165,888,397Tambahan 8,227,851 68,689,308
242,805,556 234,577,705Pelunasan (25,076,730) (14,948,224)Pada 31 Disember 217,728,826 219,629,481
15 Perbelanjaan tertunda
Dalam RM 1999 1998
KosPada 1 Januari 14,981,487 14,848,271Tambahan 1,226,065 133,216
16,207,552 14,981,487Pelunasan (2,462,683) (1,721,111)Pada 31 Disember 13,744,869 13,260,376
Termasuk dalam perbelanjaan tertunda adalah kos perolehan konsesi sebanyak RM15,943,311 (1998:RM14,964,781) dan perbelanjaan pra-operasi sebanyak RM264,241 (1998:RM16,706).
Termasuk dalam perbelanjaan awal dan sebelum operasi, adalah ganjaran juruaudit dan ganjaran paraPengarah yang ditanggung sepanjang tahun yang masing-masing berjumlah RM880 (1988:RM760) danRM120,000 (1988 : RM40,000).
1 6 Syarikat-syarikat Subsidiari
SyarikatDalam RM 1999 1998
Saham tidak disebut harga pada kos 123,000,100 123,000,097Pendahuluan subordinat 271,368,807 271,368,807Jumlah terhutang oleh syarikat subsidiari – 50,000Jumlah terhutang kepada syarikat subsidiari (5,360,138) (5,184,636)
389,008,769 389,234,268
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1 6 Syarikat-syarikat Subsidiari (sambungan)
Syarikat-syarikat subsidiari adalah
Nama Negara Kepentingan dalam ekuiti dipegang olehSyarikat diperbadankan Syarikat Aktiviti utama
Syarikat Subsidiari% %
Secara Langsung# Puncak Niaga (M) Sdn Bhd Malaysia 100 – Operasi, pengendalian,
pengurusan, p e m u l i h a ndan penyenggaraan LojiPembersihan Air.
* Puncak Research Centre Malaysia 100 – Tidak aktifSdn Bhd
* Puncak Seri (M) Sdn Bhd Malaysia 100 – Tidak aktif
Tidak Secara Langsung* Ideal Water Resources Malaysia 100 100 Operasi, p e n g u ru s a n ,
Sdn Bhd pengendalian, p e m u l i h a ndan penyenggaraan LojiPembersihan Air SungaiSemenyih, Loji PembersihanAir Wangsa Maju dan L o j iPembersihan Air SSP2 Fasa I.
* Unggul Raya (M) Sdn Bhd Malaysia 100 100 Operasi, pengurusan,penyenggaraan danpemantauan operasiempangan
# syarikat subsidiari disatukan melalui kaedah perakaunan gabungan* tidak diaudit oleh PricewaterhouseCoopers
Pendahuluan subordinat yang diberikan kepada syarikat subsidiari, Puncak Niaga (M) Sdn Bhd dijadikansubordinat dan dibayar hanya apabila pendahuluan itu digantikan dengan ekuiti yang mempunyai nilaisetara dalam syarikat subsidiari.
Jumlah yang dipinjamkan oleh/(kepada) syarikat-syarikat subsidiari adalah tidak bercagar, tanpa faedah dantidak mempunyai syarat-syarat yang tetap bagi tujuan pembayaran balik.
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17 Pelaburan
KumpulanDalam RM 1999 1998
Saham disebut harga di Malaysia, pada kos 471,139 471,139Peruntukan pengurangan nilai (426,089) (426,089)
45,050 45,050
Nilai pasaran 47,250 45,050
1 8 Skim ELSOS
Ini mewakili jumlah yang akan diterima daripada pemegang amanah ELSOS berhubung dengan bayaranpendahuluan oleh Syarikat kepada mereka untuk memperolehi 5,566,000 saham opsyen daripada syarikatpegangan dan pemegang saham lain (lihat Nota 11 (ii) )
19 Stok dan Kontrak Kerja dalam Pelaksanaan
KumpulanDalam RM 1999 1998
Stok:Kimia rawatan air 822,426 462,854
Kontrak kerja dalam pelaksanaan:Kos kontrak 349,867,280 280,315,408Keuntungan berkaitan ditolak unjuran kerugian 29,465,550 18,150,115
379,332,830 298,465,523Bayaran kemajuan yang akan diterima (329,858,747) (273,219,231)
49,474,083 25,246,29250,296,509 25,709,146
Termasuk dalam kos kontrak adalah faedah ke atas pinjaman jangka pendek berjumlah RM4,663,102 (1998: RM2,816,508)
20 Jumlah Te rhutang oleh Syarikat Pegangan
Syarikat pegangan ialah Central Plus (M) Sdn Bhd, sebuah syarikat yang diperbadankan di Malaysia yangmemiliki 51% daripada modal saham terbitan Syarikat.
Jumlah terhutang oleh syarikat pegangan adalah tidak bercagar, tanpa faedah dan tidak mempunyai syarat-syarat yang tetap bagi tujuan pembayaran balik.
21 Baki dan Urusniaga Penting Pihak Berkaitan
Dalam urusan perniagaan biasa, Syarikat melaksanakan pelbagai jenis urusniaga dengan syarikat-syarikatyang dianggap sebagai pihak berkaitan atas dasar keanggotaan mereka dalam kumpulan syarikat PuncakNiaga. Syarikat-syarikat dalam kumpulan syarikat Puncak Niaga yang berurusniaga dengan Kumpulan danSyarikat adalah seperti berikut :
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21 Baki dan Urusniaga Penting Pihak Berkaitan (sambung)
Pihak berkaitan lain HubunganMandai Sari Sdn Bhd Syarikat subsidiari Central Plus (M) Sdn BhdCentral Plus Aviation & Services Sdn Bhd Syarikat subsidiari Central Plus (M) Sdn BhdRZ Management Services Sdn Bhd Syarikat berkaitan seorang PengarahPuncak Niaga Overseas Capital Sdn Bhd Syarikat berkaitan seorang Pengarah
Urusniaga penting pihak berkaitan (selain dari yang diumumkan sebelum ini dalam Nota 5 kepada akaun)dan baki antara Kumpulan dan Syarikat dan badan-badan ini adalah seperti berikut :
Kumpulan SyarikatDalam RM 1999 1998 1999 1998
Urusniaga penting pihak berkaitanBayaran khidmat pengurusan kepada syarikat
berkaitan 500,000 500,000 – –Bayaran sewa perlu dibayar kepada syarikat
berkaitan 144,000 1,584,000 – –Bayaran khidmat pengurusan dikenakan
ke atas syarikat berkaitan – – 120,000 120,000Dividen bakal diterima daripada syarikat subsidiari – – 2,764,800 5,529,600
Baki pihak berkaitanBaki pihak berkaitan yang timbul dari urusniaga ketara pihak berkaitan di atas dan belum berbayar padaakhir tahun adalah seperti berikut:
Kumpulan SyarikatDalam RM 1999 1998 1999 1998
Bayaran akan diterima daripada pihak berkaitanSyarikat berkaitan 207,909 15,699,188 – –Pihak berkaitan lain termasuk dalam lain-lain
pemiutang dan tanggungan terakru 2,631,583 – – –2,839,492 15,699,188 – –
Bayaran terhutang kepada pihak berkaitanSyarikat berkaitan 23,384,361 10,163,003 – –Pihak berkaitan lain termasuk dalam lain-lain
pemiutang dan tanggungan terakru 2,970,000 1,469,291 – –26,354,361 11,632,294 – –
Jumlah yang terhutang oleh/(kepada) pihak berkaitan timbul dalam urusan perniagaan biasa dan tidakbercagar, tanpa faedah dan tiada ketetapan syarat pembayaran balik.
22 Lain-lain Penghutang, Deposit dan Bayaran Te rd a h u l u
Termasuk dalam penghutang, deposit dan bayaran terdahulu Kumpulan adalah bayaran pendahuluan yangdiberikan oleh Kumpulan kepada kontraktor-kontraktor projek berjumlah RM64,023,600 (1998:RM108,835,030). Pendahuluan ini diberi untuk tujuan modal kerja bagi projek Skim Bekalan Air SungaiSelangor dan Sistem Agihan Bekalan Air menurut kontrak masing-masing.
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23 Deposit dengan Institusi Kewangan
Kumpulan SyarikatDalam RM 1999 1998 1999 1998
Deposit tetap dengan bank berlesen – 176,344,404 – –Deposit jangka pendek dengan bank berlesen – 6,000,000 – –
– 182,344,404 – –
24 Pinjaman Jangka Pendek
Kumpulan SyarikatDalam RM 1999 1998 1999 1998
Pinjaman berpenggal (Nota 11) 21,150,800 – 21,150,800Pinjaman Sokongan Kerajaan (Nota 11) 12,177,558 6,088,779 – –Kredit pusingan 24,400,000 16,000,000 – –
57,728,358 22,088,779 21,150,800 –
Kemudahan kredit pusingan tidak bercagar dan perlu dibayar bila dituntut. Kadar faedah bagi tahunlaporan adalah antara 5.19% dan 9.15% (1998: 9.15% dan 14.25%) setahun.
25 Lain-lain Pemiutang dan Tanggungan Te r a k ru
Termasuk dalam lain-lain pemiutang dan tanggungan terakru Kumpulan adalah jumlah terhutang kepadakontraktor dan jumlah tertahan perlu dibayar sebanyak RM147,330,288 dan RM TIADA menurut kontrakmasing-masing (1998: RM188,815,373 dan RM45,266,283) .
26 Tunai dan Kesetaraan Tu n a i
Tunai dan kesetaraan tunai termasuk dalam penyata aliran tunai disatukan terdiri daripada :
Dalam RM 1999 1998
Deposit dengan institusi kewangan – 182,344,404Wang tunai di tangan dan di bank 59,179,942 8,163,316
59,179,942 190,507,720
27 Komitmen Modal
Kumpulan SyarikatDalam RM 1999 1998 1999 1998
Komitmen di bawah syarat Perjanjian Penswastaan merangkap Konsesi bertarikh 22 September 1994 bagi pemulihan dan pembaikan kemudahan pembersihan air 22,366,981 29,411,000 – –
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27 Komitmen Modal (sambung)
Kumpulan SyarikatDalam RM 1999 1998 1999 1998
Komitmen di bawah syarat Perjanjian Pembinaan bertarikh22 Mac 1995 bagi pembinaan danpenyiapan Fasa 2 Peringkat II,Skim Bekalan Air Sungai Selangor 70,621,228 279,595,000 – –
2 8 Tanggungan Luar Jangka
Kumpulan SyarikatDalam RM 1999 1998 1999 1998
Tidak bercagarJaminan korporat kepada bank atas kemudahan yang
diberikan kepada syarikat subsidiari – – 50,298,500 50,298,500
29 Peristiwa Penting Berikutan Tarikh Lembaran Imbangan
a. Syarikat kini sedang mengusahakan Cadangan Terbitan Saham Komposit yang telah diumumkan pada12 November 1999 yang terdiri daripada :
i. terbitan bonus sebanyak 125,000,000 saham biasa baru bernilai RM1.00 sesaham berdasarkan satusaham biasa baru bagi setiap dua saham biasa Syarikat sedia ada; dan
ii. terbitan hak sebanyak 62,500,000 saham biasa baru bernilai RM1.00 sesaham berdasarkan satusaham biasa baru bagi setiap empat saham sedia ada pada harga terbitan RM1.50 sesaham.
Pihak syarikat telah menerima kelulusan bersyarat daripada Suruhanjaya Sekuriti pada 20 April 2000.Walau bagaimanapun, tarikh terbitan saham-saham di atas belum lagi ditentukan pada masa ini.
b. Pada Januari 2000 Syarikat telah dipelawa oleh Unit Perancangan Ekonomi Persekutuan untukmemperolehi 25% kepentingan ekuiti dalam Syarikat Pengeluar Air Selangor Sdn Bhd, syarikat konsesibagi Projek Bekalan Air Sungai Selangor Fasa 3 (SSP3).
c. Pada 20 April 2000, syarikat subsidiari Puncak Niaga (M) Sdn Bhd telah menandatangani PerjanjianKemudahan Perbankan berjumlah sehingga RM261.5 juta untuk membiayai, mereka, membina danmelaksanakan Projek DSS2. Kemudahan ini terdiri daripada pinjaman berjangka sebanyak RM240 jutadan kemudahan jaminan bank sebanyak RM21.5 juta.
30 Laporan Menurut Segmen - Kumpulan
Analisa menurut segmen tidak dibentangkan kerana Kumpulan terlibat terutamanya dalam aktivitimengendali, menyenggara, membina, membaiki dan membaikpulih kemudahan pembersihan air danberoperasi di Malaysia sepenuhnya.
117
k e n y a t a a n p a r a p e n g a r a h m e n u r u t s e k s y e n 1 6 9 ( 1 5 ) a k t a s y a r i k a t , 1 9 6 5
Kami, Dato’ Rozali bin Ismail dan Mat Hairi bin Ismail, dua daripada para Pengarah Puncak Niaga HoldingsBerhad, menyatakan bahawa, pada pendapat para Pengarah, akaun-akaun yang dibentangkan pada muka surat99 hingga 117 telah disediakan untuk memaparkan keadaan yang sebenar dan saksama mengenai kedudukanKumpulan dan Syarikat pada 31 Disember 1999 dan keputusan Kumpulan dan Syarikat serta aliran tunaiKumpulan bagi tahun berakhir pada tarikh tersebut menurut Piawaian Perakaunan di Malaysia.
Ditandatangani di Kuala Lumpur pada 24 April 2000.
Bagi pihak Lembaga Pengarah
Dato’ Rozali bin IsmailPengarah
Mat Hairi bin IsmailPengarah
Saya, Mat Hairi bin Ismail, selaku Pengarah yang terutamanya bertanggungjawab terhadap pengurusankewangan Puncak Niaga Holdings Berhad, dengan tulus ikhlas dan sesungguhnya mengaku bahawa padapengetahuan saya akaun-akaun yang dibentangkan pada muka surat 99 hingga 117 adalah betul, dan sayamembuat pengakuan ini dengan penuh kepercayaan akan kebenarannya dan menurut peruntukan Akta AkaunBerkanun,1960.
Mat Hairi bin IsmailPengarah
Ditandatangani dan diakui di Kuala Lumpur pada 24 April 2000.
Di hadapan saya
Neoh Swee Kee (W037)Pesuruhjaya Sumpah
a k u a n b e r k a n u n
118
Kami telah mengaudit akaun-akaun yang dibentangkan pada muka surat 99 hingga 117 Akaun-akaun ini adalahtanggungjawab para Pengarah Syarikat. Tanggungjawab kami adalah untuk menyatakan pendapat mengenaiakaun-akaun ini berdasarkan pengauditan kami.
Kami telah mengendalikan tugas audit kami menurut piawaian pengauditan yang diluluskan di Malaysia.Piawaian tersebut mengkehendaki supaya kami merancang dan melaksanakan tugas audit untuk mendapatkankeyakinan yang munasabah samada akaun-akaun tersebut adalah bebas daripada kesilapan pernyataan penting.Skop pengauditan meliputi pemeriksaan, atas dasar menguji, bukti yang menyokong jumlah dan pendedahanyang dinyatakan dalam akaun-akaun. Pengauditan juga merangkumi tugas menaksir prinsip-prinsip perakaunanyang digunakan dan anggaran-anggaran penting yang dibuat oleh para Pengarah, serta menilai pembentanganakaun keseluruhannya. Kami yakin bahawa pengauditan kami menyediakan asas yang munasabah bagipendapat kami.
Pada pendapat kami:
a. akaun-akaun memberi gambaran yang benar dan saksama mengenai kedudukan Kumpulan dan Syarikatpada 31 Disember 1999 dan keputusan Kumpulan dan Syarikat serta aliran tunai Kumpulan bagi tahunberakhir pada tarikh tersebut menurut piawaian pengauditan yang diluluskan di Malaysia, dan menepatikehendak Akta Syarikat 1965; dan
b. rekod perakaunan dan lain-lain rekod serta daftar-daftar Kumpulan dan syarikat-syarikat subsidiari yangmana kami telah bertindak sebagai juruaudit telah disimpan dengan sempurna bertepatan dengankehendak Akta tersebut.
Kami juga telah meneliti akaun dan laporan juruaudit syarikat-syarikat subsidiari, yang mana kami tidakbertindak sebagai juruaudit, seperti yang dinyatakan dalam Nota 16.
Kami berpuas hati bahawa akaun-akaun syarikat-syarikat subsidiari yang telah disatukan dengan akaun Syarikatmempunyai bentuk dan kandungan yang sesuai dan sempurna bagi tujuan penyediaan akaun yang disatukandan kami telah mendapat maklumat dan penjelasan memuaskan yang kami perlukan bagi tujuan berkenaan.
Laporan juruaudit terhadap akaun-akaun syarikat subsidiari tidak tertakluk kepada apa-apa kelayakan dan tidakmengandungi sebarang ulasan di bawah Seksyen 174, subseksyen (3) Akta berkenaan.
PricewaterhouseCoopers[AF: 1146]Akauntan Awam
Mohd Daruis Zainuddin[969/3/01(J/PH)]Rakan Kongsi
Kuala Lumpur24 April 2000
laporan juru a u d i tk e p a d a a h l i - a h l i P u n c a k N i a g a H o l d i n g s B e r h a d
119
121
n o t i c e o f a n n u a l g e n e r a l m e e t i n g
NOTICE IS HEREBY GIVEN that the Third Annual General Meeting of Puncak Niaga Holdings Berhad (416087-U) will be held at the Banquet Hall, Kuala Lumpur Golf & Country Club, 10 Jalan 1/70D, Off Jalan BukitKiara, 60000 Kuala Lumpur on Wednesday, 7 June 2000 at 10.00 am for the following purposes:
1. To receive the Audited Accounts of the Company for the year ended 31 December 1999 and theReports of the Directors and Auditors thereon.
2. To re-elect the following Directors retiring in accordance with Article 106 of the Company’s Articlesof Association:a. YBhg Dato’ Hari Narayanan a/l Govindasamyb. Ir Lee Miang Koi
3. To re-elect the following Directors retiring in accordance with Article 101 of the Company’s Articlesof Association:a. YBhg Dato’ Rozali Bin Ismailb. Encik Mat Hairi Bin Ismail
4. To re-appoint Messrs PricewaterhouseCoopers as the Auditors of the Company and to authorise theDirectors to fix their remuneration.
5. As Special Business:To consider and, if thought fit, to pass the following as Ordinary Resolution:“ T H AT, subject always to the Companies Act 1965, the Articles of Association of the Company and thea p p rovals of the relevant govern m e n t a l / re g u l a t o ry authorities, the Directors of the Company be anda re hereby empowered, pursuant to Section 132D of the Companies Act 1965, to issue shares in theCompany from time to time and upon such terms and conditions and for such purposes as theD i rectors of the Company may deem fit provided that the aggregate number of shares issuedpursuant to this resolution does not exceed 10% of the issued share capital of the Company for thetime being AND THAT the Directors of the Company be and are also empowered to obtain thea p p roval for the Listing of and Quotation for the additional shares so issued on the Kuala LumpurStock Exchange AND FURTHER THAT such authority shall continue to be in force until the conclusionof the next Annual General Meeting of the Company. ”
6 To transact any other ordinary business of which due notice shall have been given.
F U RTHER NOTICE IS HEREBY GIVEN that a Depositor shall be eligible to attend this Meeting only in respect of:a. Shares deposited into the Depositor’s Securities Account before 12.30 pm on 30 May 2000 in respect of
shares which are exempted from mandatory deposit;b. Shares transferred into the Depositor’s Securities Account before 12.30 pm on 30 May 2000 in respect of
ordinary transfers;c. Shares bought on Kuala Lumpur Stock Exchange on a cum entitlement basis according to the Rules of the
Kuala Lumpur Stock Exchange.Shareholders are reminded that pursuant to the Securities Industry (Central Depositories) (Amendment)(No.2) Act, 1998 which came into force on 1 November 1998, all shares not deposited with MalaysianCentral Depository Sdn Bhd by 12.30 pm on 1 December 1998 and not exempted from mandatory deposit,have been transferred to the Minister of Finance (‘MOF’). Accordingly, the eligibility to attend this Meetingfor such undeposited shares will be the MOF.
BY ORDER OF THE BOARD
TAN BEE LIANMAICSA 7006285Secretary
Kuala Lumpur23 May 2000
Resolution 1
Resolution 2Resolution 3
Resolution 4Resolution 5
Resolution 6
Resolution 7
Notes:1. A member entitled to attend and vote at the Meeting is entitled to appoint a proxy to attend and
vote in his stead. A proxy need not be a member of the Company.2. The instrument appointing a proxy shall be in writing under the hand of the appointer or his attorney
duly authorised or if such appointer is a corporation, it must be either under its seal or under thehand of an officer or attorney duly authorised.
3. The instrument appointing the proxy must be deposited at the Registered Office of the Company atSuite 1401-1406, 14th Floor, Plaza See Hoy Chan, Jalan Raja Chulan, 50200 Kuala Lumpur not less than48 hours before the time set for holding the Meeting or any adjournment thereof.
4. Resolution 7 on Special Business:The Ordinary Resolution proposed under Item 5, if passed, will give the Directors of the Company,from the date of the above Meeting, authority to issue and allot ordinary shares from the unissuedcapital of the Company for such purposes as the Directors of the Company consider would be in theinterest of the Company. This authority will, unless revoked or varied at a General Meeting, expire atthe next Annual General Meeting of the Company.
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n o t i s m e s y u a r a t a g u n g t a h u n a n
DENGAN INI DIBERITA H U bahawa Mesyuarat Agung Tahunan yang Ketiga Puncak Niaga HoldingsB e rhad (416087-U) akan diadakan di Dewan Banquet, Kuala Lumpur Golf & Country Club, 10 Jalan1/70D, Off Jalan Bukit Kiara, 60000 Kuala Lumpur pada hari Rabu, 7 Jun 2000 pukul 10.00 pagi untukm e m p e rtimbangkan perkara-perkara berikut:
1. Menerima Akaun yang telah diaudit bagi tahun berakhir 31 Disember 1999 serta Laporan Pengarahdan Juruaudit mengenainya.
2. Melantik semula Pengarah-Pengarah berikut yang bersara mengikut Artikel 106 Tataurusan Syarikat:a. YBhg Dato’ Hari Narayanan a/l Govindasamyb. Ir Lee Miang Koi
3. Melantik semula Pengarah-Pengarah berikut yang bersara mengikut Artikel 101 Tataurusan Syarikat:a. YBhg Dato’ Rozali bin Ismailb. Encik Mat Hairi bin Ismail
4. Melantik semula Tetuan PricewaterhouseCoopers sebagai Juruaudit Syarikat dan membenarkan paraPengarah menetapkan ganjaran mereka.
5. Sebagai Urusan Khas:Mempertimbangkan dan jika difikirkan sesuai, meluluskan Resolusi Biasa berikut:“BAHAWA, tertakluk kepada Akta Syarikat 1965, Tataurusan Syarikat dan kelulusan pihak berkuasaberkaitan, para Pengarah adalah dengan ini diberi kuasa menurut Seksyen 132D, Akta Syarikat 1965untuk menerbitkan saham dalam Syarikat, pada sebarang masa, menurut terma-terma dan syarat-syarat dan bagi tujuan yang difikirkan layak oleh para Pengarah menurut budi bicara mutlak merekadengan syarat bilangan agregat saham yang diterbitkan menurut resolusi ini tidak melebihi 10%daripada modal terbitan saham Syarikat pada masa sekarang DAN BAHAWA para Pengarah denganini diberi kuasa untuk mendapatkan kelulusan bagi melaksanakan Penyenaraian dan Sebut Hargasaham-saham tambahan yang diterbitkan di Bursa Saham Kuala Lumpur DANkuasa sedemikian akanterus berkuatkuasa sehingga berakhirnya Mesyuarat Agung Tahunan Syarikat yang akan datang.”
6. Melaksanakan sebarang urusan biasa di mana notis sewajarnya telah diberikan.
DENGAN INI JUGA DIBERITAHU bahawa seseorang Pendeposit akan layak hadir di Mesyuarat ini sekiranya:a. Saham-saham didepositkan ke dalam Akaun Sekuriti Pendeposit sebelum pukul 12.30 tengahari pada
30 Mei 2000 untuk saham yang dikecualikan daripada deposit mandatori;b. Saham-saham dipindahkan ke dalam Akaun Sekuriti Pendeposit sebelum pukul 12.30 tengahari pada 30
Mei 2000 untuk pindahmilik biasa;c. Saham-saham yang dibeli daripada Bursa Saham Kuala Lumpur “atas dasar bersama keberhakan”
menurut Peraturan Bursa Saham Kuala Lumpur.Para pemegang saham diingatkan bahawa menurut Akta Industri Sekuriti (Depositori Pusat)(Pindaan)(No.2)1998 yang berkuatkuasa pada 1 November 1998, semua saham yang tidak didepositkan dengan MalaysianCentral Depository Sdn Bhd pada pukul 12.30 tengahari, 1 Disember 1998 dan tidak dikecualikan daripadadeposit mandatori, telah dipindahkan kepada Menteri Kewangan. Dengan itu, kelayakan menghadiriMesyuarat ini bagi saham-saham yang tidak didepositkan adalah terletak dengan Menteri Kewangan.
DENGAN PERINTAH LEMBAGA PENGARAH
TAN BEE LIANMAICSA 7006285S e t i a u s a h a
Kuala Lumpur23 Mei 2000
Resolusi 1
Resolusi 2Resolusi 3
Resolusi 4Resolusi 5
Resolusi 6
Resolusi 7
Nota-nota:1. Seorang ahli yang berhak menghadiri dan mengundi dalam Mesyuarat ini adalah berhak melantik seorang proksi untuk
hadir dan mengundi bagi pihaknya. Seseorang proksi tidak semestinya seorang ahli Syarikat.2. Instrumen perlantikan proksi mestilah secara bertulis oleh pelantik atau pegawai yang telah diberi kuasa. Sekiranya
pelantik adalah badan korporat, borang ini mestilah dimeterai ataupun ditandatangani oleh pegawai atau peguamyang telah diberi kuasa.
3 Instrumen perlantikan proksi mestilah diserah ke Pejabat Berdaftar Syarikat di Suite 1401-1406, Tingkat14, Plaza SeeHoy Chan, Jalan Raja Chulan, 50200 Kuala Lumpur tidak lewat dari 48 jam sebelum masa yang ditetapkan untukmengadakan Mesyuarat atau sebarang penangguhannya.
4 Nota Penerangan Untuk Resolusi 7:Cadangan Resolusi Biasa di bawah perkara 5, sekiranya diluluskan, akan memberi kuasa kepada para PengarahSyarikat, bermula daripada tarikh Mesyuarat di atas, untuk menerbit dan memperuntukkan saham-saham biasadaripada modal tidak berbayar Syarikat untuk tujuan-tujuan pada pertimbangan para Pengarah adalah untukkepentingan Syarikat. Kuasa ini, kecuali dibatalkan atau dipinda di Mesyuarat Agung, akan lupus di Mesyuarat AgungTahunan Syarikat yang akan datang.
123
p r o x y f o r m
I/We
of
being a Member/Members of the Company hereby appoint
of
as my/our proxy, to vote for me/us and on my/our behalf at the Third Annual General Meeting of theCompany to be held at the Banquet Hall, Kuala Lumpur Golf & Country Club, 10 Jalan 1/70D, Off Jalan BukitKiara, 60000 Kuala Lumpur on Wednesday, 7 June 2000 at 10.00 am and at any adjournment thereof, asindicated below:
No Resolution For Against1. To receive the Audited Accounts of the Company for the year ended
31 December 1999 and the Reports of the Directors and Auditors thereon. 2. To re-elect YBhg Dato’ Hari Narayanan a/l Govindasamy as Director.3. To re-elect Ir Lee Miang Koi as Director.4. To re-elect YBhg Dato’ Rozali Bin Ismail as Director.5. To re-elect En Mat Hairi Bin Ismail as Director.6. To re-appoint Messrs PricewaterhouseCoopers as the Auditors of the Company
and to authorise the Directors to fix their remuneration.7. To empower the Directors of the Company to issue shares pursuant to Section
132D of the Companies Act, 1965.
Please indicate with a cross (x) how you wish your votes to be cast in respect of each Resolution. In theabsence of specific directions, your proxy will vote or abstain as he thinks fit.
No. of shares held
Signature(s)/Common Seal of Shareholder(s) Signed this day of 2000
Notes:1. A member entitled to attend and vote at the Meeting is entitled to appoint a proxy to attend and vote in his stead. A proxy need not be a member of the
Company.2. The instrument appointing a proxy shall be in writing under the hand of the appointer or his attorney duly authorised or if such appointer is a corporation,
it must be either under its seal or under the hand of an officer or attorney duly authorised.3. The instrument appointing the proxy must be deposited at the Registered Office of the Company at Suite 1401-1406, 14th Floor, Plaza See Hoy Chan, Jalan
Raja Chulan, 50200 Kuala Lumpur not less than 48 hours before the time set for holding the Meeting or any adjournment thereof.
Puncak Niaga Holdings Berhad (4 1 6 0 8 7 - U )
(Incorporated in Malaysia)
Puncak Niaga Holdings Berhad (416087-U)Suite 1401 – 1406, 14th FloorPlaza See Hoy ChanJalan Raja Chulan50200 Kuala Lumpur
Stamp
Fold here
Fold here
125
Saya/Kami
dari
sebagai Ahli/Ahli-ahli Syarikat dengan ini melantik
dari
menjadi wakil saya/kami, untuk menghadiri dan mengundi bagi pihak saya/kami di Mesyuarat AgungTahunan Yang Ketiga yang akan diadakan di Dewan Banquet , Kuala Lumpur Golf & Country Club, 10 Jalan1/70D, Off Jalan Bukit Kiara, 60000 Kuala Lumpur pada hari Rabu, 7 Jun 2000 pukul 10.00 pagi dan padasebarang penangguhannya dengan cara yang ditunjukkan di bawah:
Bil Resolusi Menyokong Menentang1. Menerima Akaun yang telah diaudit bagi tahun berakhir 31 Disember 1999
serta Laporan Pengarah dan Laporan Juruaudit mengenainya.2. Melantik semula YBhg Dato’ Hari Narayanan a/l Govindasamy sebagai
P e n g a r a h .3. Melantik semula Ir Lee Miang Koi sebagai Pengarah.4. Melantik semula YBhg Dato‘ Rozali bin Ismail sebagai Pengarah.5. Melantik semula En Mat Hairi bin Ismail sebagai Pengarah.6. Melantik semula Tetuan PricewaterhouseCoopers sebagai Juruaudit Syarikat
dan membenarkan para Pengarah menetapkan ganjaran mereka.7. Memberi kuasa kepada para Pengarah Syarikat untuk menerbitkan saham
Syarikat menurut Seksyen 132D, Akta Syarikat, 1965.
Sila tandakan dengan (x) bagaimana anda ingin mengundi berkenaan dengan setiap Resolusi di atas.Sekiranya tiada arahan-arahan tertentu, proksi anda akan mengundi atau berkecuali sebagaimana beliaufikir sesuai.
Jumlah saham yang dipegang
Tandatangan Pemegang Saham atau Meterai Bertarikh haribulan 2000
Nota-nota:1. Seorang ahli yang berhak menghadiri dan mengundi dalam Mesyuarat ini adalah berhak melantik seorang proksi untuk hadir dan mengundi bagi pihaknya. Seseorang
proksi tidak semestinya seorang ahli Syarikat.2. Instrumen perlantikan proksi mestilah secara bertulis oleh pelantik atau pegawai yang telah diberi kuasa. Sekiranya pelantik adalah badan korporat, borang ini mestilah
dimeterai ataupun ditandatangani oleh pegawai atau peguam yang telah diberi kuasa.3 Instrumen perlantikan proksi mestilah diserah ke Pejabat Berdaftar Syarikat di Suite 1401-1406, Tingkat14, Plaza See Hoy Chan, Jalan Raja Chulan, 50200 Kuala Lumpur
tidak lewat dari 48 jam sebelum masa yang ditetapkan untuk mengadakan Mesyuarat atau sebarang penangguhannya.
Puncak Niaga Holdings Berhad (4 1 6 0 8 7 - U )
(Diperbadankan di Malaysia)
b o r a n g p r o k s i